They are pivoting with inflation still running at 4 percent with signs that it might even spike a little the next few months.
They are pivoting with a still hot labor market.
Seems they are trying harder than usual. Ofc, election year matters a lot….
I admit that I was certain they would simply stick to the ‘higher for longer’ script. I paid for that certainty lol.
In the past the Fed did not seem happy until real signs of distress in economy, and then they would respond with emergency rate cuts and the such. This does not seem to be the case here.
Implied but never stated by this Fed: that they will tolerate inflation in the 3 percent range for a while rather than cause recession.