Investors are forgetting the 'pain before the pivot' - and failing to see the debt disaster ahead, expert warns

• Investors are forgetting how brutal the period before Fed rate cuts can be, Stephanie Pomboy warns.
• Rate hikes caused delayed damage, and rate cuts don't work instantly, the Macro Mavens founder says.
• Pomboy expects the delayed impacts of higher interest rates to hammer households and businesses.

Investors can't wait for the Federal Reserve to switch from raising interest rates to cutting them, as they expect that to boost economic growth and send stocks higher. They're overlooking the brutal fallout from the central bank's hikes that will precede that policy shift, Stephanie Pomboy has warned.