Investors were settling into the belief that inflation would subside next year with the threat of an economic slump sufficient to do the job of curbing prices. With a sigh of relief, they came to hope that all this would happen in good time to avoid much higher interest rates and a long and deep downturn.They even invented the pivot, the likelihood that the US Federal Reserve and other central banks would early next year be cutting rates to stave off recession.
投資者們本來篤信明年通脹將會下降，因為經濟發生衰退的威脅將足以起到抑制物價的作用。在松了一口氣之余，他們開始希望這一切快點發生，以避免利率在目前水平上繼續大幅上升，從而使經濟陷入漫長且深重的衰退。
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