Return to the macro:
For the past two months, I have been suggesting that those who speculate in cryptocurrencies and stocks ignore the Fed and do not need to look at Fed liquidity. The entire macro market focuses on the micro-level profits of large companies
Now I solemnly declare: The importance of the macro has returned, and we need to re-examine JPow, the scumbag. The reason is that the market is over-pricing the September rate cut!
Even if the rate cut is a high-probability event, the market will hesitate back and forth before September, looking for a balance between self-doubt and excessive aggressiveness