When The Fed Cuts Rates...
It will be quick back down to 2-3%. The Fed will be quick to lower rates as job losses mount during this election year.
These won’t be 25 BPS moves on the way down. The Fed is not comprised of serious people (ditto for Treasury, Congress and the Executive branch). These are people hellbent on keeping the debt-funded gravy train going, Dollar be damned.
Enjoy the weekend.