The Fed Pivot Is the First Terminology Change, Right?

When the jobless claims data four week moving average gets to 323,000 and breaks that the pivot will talk about where the economy is really weakening. The bond market's going to get well ahead of that, right? That'll draw mortgage rates a lower. If the Federal Reserve says we're supporting the MBS market, mortgage rates could drop 2% in a short amount of time. You can see that happen very quickly. But again, right now, they're using the labor market as their cover,. They're using the household balance sheets as their cover. And that's why people when they heard Chairman Powell talk, somebody said, Oh, God, he's using Logan's Motor Sh