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Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

In today’s Chart of The Day, we’re showing you the widest divide between in Dot Plot Dogma vs. what the market thinks (Fed Fund Futures)… in the history of dot plot projections…

What could possibly go wrong?

In order to begin to try to answer that question, I think you have to start with what could make the PE Powell and his Fed heads make it right. They have to catch up to the market’s expectation for faster and more aggressive rate cuts.

Until they do that, we’ll call the Fed Not Dovish Enough.

CHART OF THE DAY: Fed Not Dovish Enough - Chart of the Day

CHART OF THE DAY: Fed Not Dovish Enough - early look