🎯 The decision is in: The Fed holds steady, but cracks appear within its ranks

This morning, the Fed held rates at 3.75%–4.00%—as 90% of forecasts expected—but the vote revealed a split:

⚡ A 10–2 split: Governor Cook and Cleveland Fed President Hammack both dissented, calling for a 25 bp hike. Unanimous consensus is a thing of the past—the hawks have shown their hand.

📝 Three quiet changes to the statement: It dropped the pledge to “support inflation returning to 2%,” replacing it with “awaiting the accumulation of more information”; the economy was upgraded from “solid” to “strong”; and “soon” became “in a timely manner”—the Fed is in no hurry to bring inflation down.

🎤 Warsh dodged questions throughout his press conference: He only said “growth is strong, inflation is high,” gave no hint about whether December would bring a hike or a pause, and announced changes to the FOMC meeting process starting next year.

Markets were muted: Dow +0.3%, S&P 500 +0.2%, Nasdaq flat; the dollar held around 102, and the 10-year Treasury yield climbed back above 5%. BTC took investors on a roller coaster: surged to 81,700 before the decision → fell back to 80,500 ahead of the announcement → recovered to 81,000 afterward. It’s now at 80,134 (24h: -0.95%).

After-hours earnings were a mixed bag: Microsoft Azure beat expectations, up 2% after hours; Google Cloud impressed, but overall results fell short of expectations, down 8% after hours.

Up next: U.S. PCE tonight at 20:30 → $11.1 billion in BTC options expire this Friday (max pain: 78,000).

The December rate-hike dice have been rolled—where do you think they’ll land? 👇 $BTC
#美联储 #Bitcoin
Not investment advice.