FED HOLDS RATES — BUT THE VOTE WASN’T UNANIMOUS 👀 👉 Even despite keeping rates on hold, the rhetoric in the statement remained hawkish. The Fed no longer considers its current policy restrictive enough to bring down inflation. Meaning we should expect more aggressive actions ahead 10–2 to keep rates unchanged, in line with market expectations. What matters: → Lisa Cook and Beth Hammack dissented, favoring a 25 bps hike. → The Fed sees solid growth, supported by investment, productivity and resilient consumer spending. → Inflation remains elevated, so the next moves will depend on incoming data. ❗️ One notable change: the statement dropped language suggesting the current policy stance would help return inflation to target faster. Warsh speaks in 30 minutes. That’s the next thing to watch.