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#FedHoldsRateButDividesDeepen
8-4. The deepest Fed divide since 1992.
Rates held at 3.50%-3.75% for the 3rd straight meeting, but:
🔹 3 regional presidents want to ditch the easing bias.
🔹 1 governor wants an immediate cut.
Oil + Middle East tensions = sticky inflation.
Markets now repricing "higher for longer"—or even a hike. Risk assets under pressure.
The calm on rates masks a storm inside the committee. 🌪️