Will the Fed Pivot?

A lot of people are remembering the last four years, the Fed pivots and boom, the bottoms in place. That happened after the pandemic and the new bull market was born. What they forget is that as the last housing bubble unwound, housing prices peaked in 2005 - two years before the stock market peaked. So that's the concern, I think, of putting all your confidence in hoping and waiting and watching for that imminent or inevitable Fed pivot in policy.