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What the Fed's past rate cut pivots tell us about today
Financial markets gyrating. The economy showing cracks. Wall Street talking heads accusing the Federal Reserve of being cluelessly behind the curve. The big picture: These are hallmarks of moments when the Fed has undertaken a pivot toward rate cuts, and are very much in the air right now. Examining those past episodes sheds light on what could go right — or very, very wrong — as rate cuts loom. • Three past dovish pivots from this century stand out for what followed — one good (2019), one bad (2001) and one ugly (2007). Flashback: The dream scenario is what played out in 2019. In December 2018, the Fed ... (full story)