When the Fed members talk like Hawks, they are signaling Fed rate hikes or a pause. When the Doves are speaking, its about pausing and cutting the Fed rate.

The Hawks are starting to get outnumbered, and this is a good thing.

Quantitative Tightening is when the Fed sells off its balance sheet. This is what they have been doing for the past two years.

Quantitative Easing involves the purchase of Mortgage-Backed Securities (MBS) and Treasuries, which was happening after the 2008 great recession.

All this bodes well for lower rates in 2024.

On a personal note, I want to thank everyone for your support and celebrate our continued success. Have a great rest of your week and Thanksgiving.