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Folks, the Fed is spooking everyone again!

Waller said it himself: rate hikes aren’t over, but there’s no rush just yet. The market got the message loud and clear—October is a wait-and-see, and December could bring another hit.

What’s the key point? Inflation has been running above target for five and a half years. What he fears most now isn’t ugly data—it’s people losing faith in the Fed. Once expectations become unanchored, things will be much harder to manage.

The dot plot is even more telling: eight officials expect rates to be 50 basis points higher than they are now by the end of 2027.

In plain English: high rates aren’t a passing breeze—they’re a long war of attrition.

How will this play out? Join the livestream and let’s keep an eye on it together.