The latest Fed decision is sending mixed signals that markets need to digest carefully. While they pushed through a 25 basis point rate cut, the internal debate was far from unanimous—we're seeing formal dissents from both sides of the policy spectrum, plus several members expressing what insiders are calling "soft dissents." That's not exactly a unified front.

What's really catching attention is the shift in forward guidance. The committee is pumping the brakes on additional cuts for now, though nobody's being clear about how long this pause might last. Chair Powell did offer one definitive statement: rate hikes are completely off the table for the foreseeable future. That should provide some baseline certainty for risk assets, even if the path forward remains foggy.