FOMC Recap: 6 7

 Maybe Edward, maybe not…if you know, you know

Six… Seven

The Fed held.

4.25%–4.50%.

No surprise there.

But two Governors dissented — the first time that’s happened since Jurassic Park debuted and Alanis dropped Jagged Little Pill. The headline writers scrambled. “Cracks in the façade,” they muttered. “Rising internal tension.” Okay.

Dot plot? Still penciling in one rate cut by the end of 2025?

The market responded with a casual scroll, maybe a sip of flat LaCroix. We’ve heard this song before — and we’re not dancing to it anymore.

Truth is, the Fed walked out like Powell always does:

🎶 Six… Seven… 🎶

Suit pressed, message tight, performance predictable.

But in the background, markets were already vibing to their own beat.

🎺 Doot doot doot da-doot doot…

Rate cuts aren’t coming because the Fed said so.

They’re coming because credit’s flowing, nominal’s cooling, and politics are heating up.

This isn’t a pivot. It’s a vibe shift.

And Powell’s still reading off the prompter while the music’s already changed.

– EQ