Are expectations low for the FRB's “moderate” interest rate cuts and soft landings, which have few precedents

2024/8/7 5:43 PM GMT+9 (some excerpts)

“When you go up, it's an escalator; when you go down, it's an elevator.” This is an expression often used when talking about the dollar/yen exchange rate. In other words, the appreciation of the dollar and the depreciation of the yen slowly over time, and the appreciation of the yen and the depreciation of the dollar progressed all at once.
The same applies to US policy interest rates. While financial markets around the world are unusually unstable, such movements will actually be visible from now on.
The US Federal Reserve (FRB) interest rate hike cycle tends to run slowly at a “small pace,” in the words of former chairman Alan Greenspan, but the interest rate cut cycle is different.