Next week, the Federal Reserve will hold a meeting, but the real highlight isn't the interest rate—it's the first "dot plot" that new Chair Warsh will present.

Explain why this thing is so intimidating.
A dot plot is where each Fed committee member anonymously marks a dot indicating where they think interest rates should be in the future.
Connecting all the dots shows the collective expectation of these people regarding "how expensive money should be."
The current issue is: Warsh is famously hawkish.
The market has already priced in that he will produce a chart showing "no rate cuts this year, and possibly more hikes."
And then I see a bunch of people still shouting "The Fed is about to loosen policy."
Bro, this new guy's resume is full of "I hate inflation."
Do you really expect him to come in and start easing right away?
Assets that are most sensitive to interest rates, like crypto and tech stocks, will be hit first.
When interest rate expectations go up a notch, the valuation of risk assets gets pushed down.
So next week, don’t just watch the interest rate numbers.
Pay attention to the dots in that chart—whether they drift upward or downward—that’s what will determine your positioning for the second half of the year.