MacroVoices #348 Eric Peters: On The Road From Mean Reversion To Reflexivity
Macro Voices
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The Market Is Fixated on Expectations of a Fed Pivot
This week's events just further cement of you in my mind that the market is completely fixated on expectations of a fed pivot, which lack any basis in reality. The Fed has been clear that they hope to slow down the pace of rate hikes when conditions warrant. That means when inflation comes under control. If I'm right about inflation remaining persistent, there's just no sane reason for all this pivot expectation mania. And at some point the market is going to price that reality in and we're going to see a big move down. It won't be pretty when that happens.
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