[MuffinFlavored]

The Fed's dot plot shows they plan on lowering interest rates within the next 24 months.

How can Microsoft (big tech company) not have faith that their highly paid engineers + managers can't build amazing products efficiently (aka not costing too much) to the point where they can outcompete the risk free rate which is temporarily ~5% and headed back down to 2-3% within the next 2-3 years most likely?

[disgruntledphd2]

Sure, but 24 months is six quarters of potentially lower returns and share price. Execs are bonused on share price appreciation so the layoffs make sense to them.