What's the Fed's Credibility?

The fed seems to have lost a lot of credibility regarding the notion of inflation being transitory. They basely come out and said, whop. Ar bet wer gon to take a mulligan on that. We got that went wrong. Stocks were oversold, sod people, they bought in. And now we can see how much, how much,. how many legs the relief rally has, how long this relief rally lasts. I look at this last move as a sort of a regime shift. It's a regime shift because we're moving from the forward guidance game to actual rate cuts or rate hikes.