Markets Keep Rallying on Hopes of Dovish Fed Pivot, But Have Been Wrong So Far
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Markets have rallied seven times on hopes of a dovish Fed pivot, but have been wrong each time.
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First mistaken pivot was in November 2021 with Omicron variant.
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Second was in February/March 2022 after Russia invaded Ukraine.
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Third was in May 2022 on growth worries like China lockdowns.
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Fourth was in July 2022 after CPI decline and recession fears.