The Federal Reserve has hit pause on its policy moves, leaving markets in a holding pattern. All eyes are on Tuesday—the data coming out that day could reshape expectations around when the central bank might make its next move.

This matters. When the Fed shifts gears, it ripples through everything: bond yields, stock valuations, and the broader sentiment that drives capital flows. Crypto markets, which have been sensitive to macro conditions, will be watching closely too.

The question isn't just what the data shows, but how policymakers interpret it. A hotter-than-expected print could keep rates higher for longer. A cooler-than-expected figure might open the door to easing. Right now, the market is essentially on standby, waiting for the Fed to give its next signal.