Is Powell Going to Change His Tone?

The market is pricing an b four point four % terminal rate, and then the end of the cycle, a pause in april 20 23. But i think people are getting excited, thinking powell's going to change his tone this week. The risk that is not priced in is that powell comes out and says, listen, this is going to be a long fight against interet rates. If he does come out and say that, then yet i think you've got a problem.