Everyone is waiting for tomorrow. Powell may find that valuing stability over chaos will help him to bury his past mistakes. Like, saying 3.5 % is where we plan to keep rates for the next two years, put to rest all this pivot stuff. The economy can handle it.

The special report we are completing, and which may be out later today, takes a look at recent history and how the important turning points reflect in the market the interaction of economics and FED reaction.

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