Nick basically gave the market a heads-up in advance.

It seems that the dot plot indicates a greater probability of two rate cuts in 2025,

However, even if the market is locked in on rate cuts in 2025, the uplifting effect on the market may not be very significant.

After all, in the two months prior, the market had almost fully priced in expectations for two rate cuts.

Especially since I believe that the rise from 74,000 to a new high also included bets on two rate cuts!

What do you all think?