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Wall Street’s ‘Foolish’ 2024 Trade Is Betting on Early Fed Rate Cuts
The latest warning for investors unleashing dovish monetary wagers across the board: Two thirds of Bloomberg Markets Live Pulse respondents said that betting the Federal Reserve will loosen monetary policy early is the “most foolish” among popular trades heading into 2024. Even as the S&P 500 closed Friday at an all-time high, money managers and analysts are contending with data that signals US economic resilience and Fed officials who’ve pushed back against reducing interest rates too soon. The results are an indication of rising anxiety on Wall Street that the bulls — who’ve been emboldened by ... (full story)