The Worst Setup Ever: The Fed Still Tightening

There's this expectation that, okay, well, the Fed's going to pivot because that's what they do. And therefore, you're going to have an easing of the credit conditions in the not too distant future. I totally disagree with that in part because I think there's the credit quality issue that cannot be solved. Even if even if you assume that the Fed is going to pivot, they would have to cut rates all the way back down to where they were before they started to raise them. So it's very it's it's the worst setup I think ever.