Cuts are the only thing keeping this from free falling, so yes. I think he's going to keep his "wait and see" line about inflation and the market is going to kill itself.
Buddy, the market has been in free fall since mid-February and the Fed hasn't blinked. Daddy JPow does not give a fuck about your equities. I promise you.
You will hear "cuts any day now" blaring EVERYWHERE just like you have been hearing for eighteen months. They aren't coming. And a lot of people are going to get fucked up believing they are. There's a vested interest in keeping folks spending and borrowing and rate cuts provide that carrot.
Like every single time but way worse this go around due to all the moral hazard waiting for a match that appears to be lit.
10% from the whole time peak is something, but not extremely alarming…..and I agree with you, his mandate is not to deal with “your” equity loss, however, if this fall will touch the consumptions (most likely) and the unemployment rate (somehow last Q was incredible) daddy JPow will do something.
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u/Oo00oOo00oOO 1d ago
So the market will absolutely go bonkers if there ain't any cuts?