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Anyone have opinions over the recent FOMC report? My short position got pretty burnt. I was expecting a hawkish performance and 1-2 cuts in 2024. It looks like the Fed instead pivoted to accepting: low unemployment (4%), high inflation (2.9%), and 3 cuts this year. Frankly I was surprised by the pivot ergo my short positions got burned. I’m wondering if Powell said what he did without meaning it- I can’t believe he will cut 3 times because I do believe higher sustained inflation is worse. However, I believe he said the contradictory things so the market wouldn’t tank. If the markets tanked he’d have to cut earlier than he wants. Opinions on the past week?
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