Fed will be cautious with just two rate cuts in 2025. As expected by us, but not by the markets. There is no need for the Fed to cut fast. Lower rates will not come back and is not wished for. That is a symptom of really nervous centralbanks. Fed is not nervous and will not upset the markets. Although this first reaction is disappointment. Even a correction in the stock market will not be enough for the Fed to cut more.
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