 Markets are rarely straightforward. The Fed dots and commentary from Powell were more-hawkish than anticipated. Initially, the market reaction is what you would expect with the dollar rallying and stocks falling but the market later reversed and is roughly back to pre-Fed levels.A big reason why is that the bond market simply doesnt believe the Feds forecasts. Its a reminder that at this time last year the Fed was only forecasting 75 bps in total hikes in 2022.This tim... 