The possibility of a more lenient monetary policy was enthusiastically welcomed, stimulating a positive sentiment that pushed the markets to new peaks.
The correction served as a reminder that, despite the initial optimism, expectations around interest rates can change quickly with new information or statements from Fed officials.
Prominent figures such as Raphael Bostic, John Williams, and Loretta Mester made statements that cooled expectations of immediate interest rate cuts.
They asserted that, although current inflation figures were positive, the economic outlook needed to be evaluated in more detail.
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