The Fed's dot plot flipped hawkish in June and stocks barely blinked. Am I wrong to find that weird?

9 of 19 FOMC members now see at least one more hike by year end, up from a majority penciling in cuts just a couple meetings ago. rates have been sitting at 3.5 to 3.75% since June and the market's reaction has basically been a shrug. either everyone thinks Warsh caves before the September meeting, or nobody trusts the dots anymore after two years of them being wrong in both directions. tomorrow's jobs number feels like a decent first test of which one it is. what would actually change your mind here, a bad print, a good one, or is this priced in regardless of what comes out tomorrow?