why do traders think the feds going to cut rates in june

Brutal Week for Banks Ends With Gains in Stocks: Markets Wrap https://www.bloomberg.com/news/articles/2023-03-23/stock-market-today-dow-s-p-live-updates

s&p 500 up today, apparently investors are betting on rate cuts after the recent .25 hike even though J Powell basically said he’s not gonna do it: “not [his] base case.” Are investment bankers tryna short sell some ish to cover losses? No way investors are gonna be surprised pikachu face when the rate cut doesn’t come when expected.