This week’s Federal Reserve decision was interesting mainly because there was no hint at a pivot. The market had been pricing in a rate cut this year, but the Fed made it pretty clear that that’s not happening. They essentially said they’re close to finished, but might raise rates two more times this year. I (somewhat) jokingly said on Twitter that the message could be distilled down to “We’re done hiking interest rates, but we are ready to break the economy if you idiots starts buying fart jars again”. In short, the Fed is ready to declare victory on inflation, but they are keeping their guns drawn in case consumers ... (full story)