This from the Wall Street Journal's Nick Timiraos. He's being a big tongue-in-cheek but even so he makes an excellent point about overshoot in the market:
Timiraos is being generous to the market, there were plenty of analysts calling for 7 rate cuts in 2024.
ps. His article is here (gated)
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As an aside we're getting the same sort of response (in the opposite direction) re the Bank of Japan now:
July BOJ rate hike? Not. Gonna. Happen.
