So JPM just flipped *again*. A week ago they swore the Fed would hold until January… and now they’re saying we might actually get a **December rate cut**.
What changed?
Apparently the recent “soft landing” vibes from multiple Fed officials especially Williams were enough for JPM s economists to rethink their whole call. They’re now expecting **two 25 bps cuts: Dec + Jan**.
As someone who s been in this market long enough to see the Fed whiplash more times than I can count… this one caught my eye.
If the Fed really opens the door in December, that’s a very different setup for year-end positioning than what most of us were planning even a few days ago.
My questions for you all:
* Does a December cut actually make sense here, or is JPM just chasing the narrative?
* How are you positioning into year-end if this becomes the consensus?
* Anyone else feel like the Fed’s “data dependent” line is basically mood-dependent at this point?
Curious how everyone s reading this, because this shift could change the whole risk-on/risk-off balance heading into Q4.