Situational Awareness
🏛️ Hawkish-hold hangover. The Fed left rates at 3.50–3.75% last week — Chair Warsh’s first meeting, a unanimous hold, but the dot plot turned: 9 of 18 officials now pencil in at least one hike before year-end with inflation still above 2%. Futures price zero 2026 cuts. Growth and rate-sensitive names trade on every yield tick this …
