The Fed held rates steady tonight, but the market hasn’t yet breathed a sigh of relief. Rates remain at 3.75%-4.00%, as expected, with a 10-2 vote. Both dissenting voices advocated for an immediate additional 0.25% rate hike 📌. The Fed emphasized that the economy is still growing strongly, investment remains robust, and inflation is still elevated. Bitcoin surged to around $81,000, while the 10-year bond yield rose above 5%. The market therefore does not view this as a sign of easing. What I’m closely watching is that the market now assigns an 86% probability of a rate hike in December. Sometimes markets react with an immediate price spike after news breaks—but interest rates are a constant gravitational force that gradually weighs on all risk assets 🌍. Source: https://t.co/dchrWw6cyb