While everyone - from the most clueless and incompetent Fed president and career economist-cum-fax machine expert, to the local hotdog vendor and Uber driver - now has an opinion on when the Fed will cut rates, few are willing to put actual money where their mouth is. So when someone bets a substantial amount of money on a non-consensus forecast for where rates should go, people talk. And they are talking a lot right now, after Bloomberg pointed out that a mystery trader has put on a huge bet that Fed will cut rates as low as 2.25% - some 300bps of cuts from here - by March 2025, wagering approximately $13 million ... (full story)