The Pivot Issue For two years, Wall Street pundits and asset gatherers have been screaming for the Fed to pivot to lower interest rates. Unsurprisingly, they make more money when asset prices are high. They were doing this even as the CPI was approaching double digits and when real inflation was approaching 20%. This week, Fed Chairman, Jerome Powell, changed his tune and delivered a dovish message. The CPI is trending down led by lower energy prices. Consumers continue to spend like crazy. A year ago, the soft-landing crowd sounded crazy. Now, it’s a real possibility. This week, we’ll address…

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