I think this may be interpreted as welcome by the markets: a significant reduction in the size of the rate increase, signaling the Fed is closer to a "monitoring mode." Between recent reports of (not good but better) price changes and the disruption at the banks, if we can coast down on pricing without raising rates much more, that's probably the kind of landing you want.

Sad to think if only the PS5 had never been launched, none of this would have ever happened.