Fed's latest rhetoric and what it means for defensive plays

Watching the Fed's latest dance around 'higher for longer' has me wondering if we're all just going to slowly bleed value or if there's a pivot coming that'll catch everyone flat-footed. It feels like every time they open their mouths, some part of the market does a little jig. I'm keeping an eye on the more defensive names like $BAX, which is currently sitting around 22.02; might be a decent place to park some capital if this uncertainty persists. At this point, the only certainty seems to be the market's ability to surprise us.