Article excerpt:
But according to Jeff Bierman, the chief market technician at TheoTrade who held the same position at TD Ameritrade between 2007-2015, investors shouldn't be betting on a shift to dovish policy in 2023.
From here, inflation is likely to fall more slowly back to its 2% target, meaning the Fed will most likely keep interest rates elevated, he said. The Fed has said they intend to keep the fed funds rate at the terminal rate — or the rate at which they pause hiking — through 2023, despite the market believing differently.
"Inflation goes up like a volcano and comes down like a feather," Bierman said. "It's going to take a while to reset inflation lower."
He added: "The idea of a pivot? Not going to happen."
Read the full article on Business Insider HERE