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Hmm, I just read that the dot plot predicts a drop to 4.6% in 2024?
Yeah there’s a little leeway. From the announcement of the cut, to the execution, to the final rollover there’s a warning period. 2008 was about a four month period to begin easing out of positions and prepare for the drop. It also had two “humps” to the cut cycle. The markets topped for good in between them.