(HedgeCo.Net) A new and more uncomfortable macro trade is beginning to take shape across Wall Street: the Federal Reserve’s next move may not be a cut.
For much of the past year, the dominant market assumption was that the Fed’s inflation fight had entered its final stage. Growth was expected to cool. Inflation was expected to drift lower. The policy debate was expected to shift from how long the Fed should keep rates elevated to how quickly it could begin easing without reigniting price pres...
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