Fed has been pretty steady as the data have come in. We in markets are the ones overreacting right and left like monkeys on crack.
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@mark_dow People have trouble differentiating "constant reaction function, changing inputs" (what's actually happened) from "changing reaction function" (happened in the past, but not right now)
@mark_dow We got Powell the dove in Q1 and Jay the hawk yesterday Maybe the markets are just trying to interpret Powell instead of understanding the data