In this corner, we have Fed Chair Powell, Treasury Secretary Yellen, President Biden and Cheerleader Brainard all cheering and singing “Everything Is Beautiful!”. In the other corner, we have … investors who are are betting that The Fed will be cutting the target rate from 5.50% to 4% by December 2024, a cut of almost 150 basis points in one year. Why? First, the US economy is softening. Second, The Fed will want Biden (or whoever Democrats prop up in his place) re-elected as President. While Wednesday’s FOMC statement had barely any changes in it, with the notable addition of...