The bond market has been consistently pricing Fed rate cuts since September 2022 (when Powell said 'we're done hiking'), but the Fed has repeatedly failed to deliver, creating a recurring pattern where geopolitical or economic shocks reset rate-cut expectations.
factualpending
Speaker
Jeffrey ShermanEvidence Quote
“if you go back and pull on your screens, you go back to September '22, the rates market has been pricing in Fed cuts since since J Powell said we're done hiking. The bond market heard we're cutting, right? And it's been that way for 3 and 1/2 years.”
Created: 8/12/2026, 10:36:49 PM
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