Fed's next move is priced in the equity risk premium, not the dots.
If stocks keep running 2x+ above cash, they'll hike again. If we've topped, they're done. If we chop sideways? Doesn't matter.
Market's telling you the policy path before Powell does.
If stocks keep running 2x+ above cash, they'll hike again. If we've topped, they're done. If we chop sideways? Doesn't matter.
Market's telling you the policy path before Powell does.