That is exactly why I feel that the whole " 5% terminal rate bro and then massive pivot " is some soft landing meme cope . So much more work for feds to do that chances are we might either go past 5% to 6-6.5%, or we stay at 5% for a lot longer then we expect to.

As awesome as some rate cut or ending rates here would be things are still far too overshot to risk doing that now.