Final answer:
Traditional macroeconomic expectations under Keynesian and Neo-Keynesian frameworks assume slower economic adjustments and are not consistent with the rational expectations assumption of rapid market adjustments.
Step-by-step explanation:
Traditional treatments of macroeconomic expectations are not entirely consistent with the assumptions of rational expectations.
Rational expectations is a theory which posits that individuals in an economy use all available information to forecast future economic activity and assume that market adjustments happen rapidly. This theory is closely associated with neoclassical economics.
On the other hand, Keynesian and Neo-Keynesian theories typically assume that adjustments in the economy, such as price and wage changes, take longer due to factors like price and wage stickiness. This can lead to periods of disequilibrium where the economy is not at full employment.
Therefore, traditional expectations that are consistent with Keynesian thought are not aligned with the rapid adjustments implied by rational expectations.