> ... slashing rates in 2025, shouldn't be too hard to scrape by til then
If rates aren’t being slashed long before then, then either:
(1) the brief burst of layoffs were an aberration and the job market will have otherwise stayed strong, so scraping by isn’t an issue.
(2) despite a weakening job market, inflation has been so persistent that fighting it remains a higher Fed priority than stimulus, and a politically motivated loosening of monetary policy would be a recipe for slingshotting into hyperinflation.
