Kevin Hassett wants Jerome Powell off the Fed board, a move that would let Trump nominate someone to one of the FOMC's 12 votes. Powell voted for the September hike Hassett says he disagreed with, so the seat is worth one dissent until other voters move.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap+20
- Incentives70
- Confidence50
US employers added 29,000 jobs in September while the Bureau of Labor Statistics cut 60,000 from its July and August counts. With layoffs still falling, the data describe a hiring freeze that argues for slowing headcount plans and holding cuts in reserve.
Perspective Coverage
4 publishers
- Builder
- Builder 9%
- Operator
- Operator 40%
- Investor
- Investor 51%
Reality
- Evidence80
- Adoption
- Insufficient
- Hype gap+10
- Incentives
- Insufficient
- Confidence75
Fed policymakers raised rates 12-0 to 3.75%-4% on Sept. 16, and 16 of 18 projected at least one more quarter-point hike this year. Long yields have since risen more than the hike itself, so borrowers have more reason to plan around that projection than around President Trump's complaint.
Reality
- Evidence60
- Adoption
- Insufficient
- Hype gap+20
- Incentives45
- Confidence55
Donald Trump wants Jerome Powell forced off the Fed board over a renovation audit and sued if he stays, in a seat whose term runs to January 2028. TD Cowen expects the threat to keep Powell there until at least early January 2027, so Trump gets no vacancy to fill.
Reality
- Evidence62
- Adoption
- Insufficient
- Hype gap+20
- Incentives58
- Confidence60
Myriad traders give Bitcoin 48% odds of touching $90,000 in October, a 7.4% climb that is half the month's median gain since 2013. Rates explain that discount better than fund flows do, since September's spot-ETF buyers have so far barely sold.
Reality
- Evidence50
- Adoption
- Insufficient
- Hype gap+10
- Incentives70
- Confidence50
US spot Bitcoin ETFs have taken in about $3.1 billion over nine trading days, lifting their year-to-date net inflows to roughly $1 billion. Ether and Zcash funds slipped into small outflows after week-long inflow runs, in sums too small to show money leaving altcoins for Bitcoin.
Reality
- Evidence72
- Adoption60
- Hype gap+20
- Incentives
- Insufficient
- Confidence68
Fed inspector general Michael Horowitz found no crime in the $2.5 billion headquarters renovation and blamed poor project management for its cost. His report moves the argument from Powell's testimony to the budget controls the Fed never put in place.
Reality
- Evidence65
- Adoption
- Insufficient
- Hype gap+5
- Incentives60
- Confidence60
Kevin Hassett, the White House's top economist, says three-month core inflation near 2% leaves the Fed little room to raise rates. Wednesday's August PCE release will test his window on the inflation gauge the Fed itself prefers.
Reality
- Evidence45
- Adoption
- Insufficient
- Hype gap+30
- Incentives80
- Confidence50
Fed policymakers hiked in September against inflation that supplies about 4 points of the 6%-plus nominal growth now outrunning a 5.16% 10-year yield. With the $2 trillion deficit adding about 5% a year to the debt, a slowdown that leaves yields near 5% would push the debt ratio up.
Reality
- Evidence50
- Adoption
- Insufficient
- Hype gap+15
- Incentives35
- Confidence45
New York Fed President John Williams called one more rate hike this year reasonable, citing AI investment demand and energy prices with inflation at 3.4%. Sixteen of 18 Fed officials project at least one more move, so borrowers should plan on a policy range of 4% to 4.25% or higher by year-end.
Reality
- Evidence72
- Adoption
- Insufficient
- Hype gap+15
- Incentives
- Insufficient
- Confidence75
Core services and a sudden run-up in computer prices are holding the Fed's preferred gauge 1.35 points above target. Futures put the September choice at hold or hike.
Perspective Coverage
3 publishers
- Builder
- Builder 10%
- Operator
- Operator 32%
- Investor
- Investor 58%
Reality
- Evidence78
- Adoption
- Insufficient
- Hype gap+10
- Incentives
- Insufficient
- Confidence74
Bitcoin's spot funds gave back $201.9 million on Friday, four-fifths of it from two sponsors, while ether's kept taking money into a book sitting barely 7% above what its buyers have paid in. That is a thin cushion for a 10-day streak.
Perspective Coverage
3 publishers
- Builder
- Builder 8%
- Operator
- Operator 17%
- Investor
- Investor 75%
Reality
- Evidence72
- Adoption70
- Hype gap+15
- Incentives
- Insufficient
- Confidence68
The 10-year Treasury touched 4.92% on Thursday, its highest since 2023, with oil back above $100 a barrel. Fed funds futures put next week's hike odds near two in three, and the long end has already moved.
Reality
- Evidence40
- Adoption
- Insufficient
- Hype gap+15
- Incentives
- Insufficient
- Confidence40
Richmond Fed President Tom Barkin said tariffs, gasoline and AI spending are keeping inflation up after the Fed's first rate increase since mid-2023. Planning for cuts now means betting against the persistence Barkin described.
Reality
- Evidence45
- Adoption
- Insufficient
- Hype gap0
- Incentives
- Insufficient
- Confidence55
The Fed's quarter-point hike arrived with a projections table carrying eighteen members' views of where rates finish the year and none from Kevin Warsh, who rejects forward guidance and says the next decision follows the data.
Perspective Coverage
3 publishers
- Builder
- Builder 5%
- Operator
- Operator 43%
- Investor
- Investor 52%
Reality
- Evidence70
- Adoption
- Insufficient
- Hype gap+5
- Incentives35
- Confidence68
Oaktree's co-chairman has wanted a non-activist Fed for years, and the Fed he is endorsing has been open four months, with five task forces, one Jackson Hole speech and a single unanimous hike behind it.
Reality
- Evidence45
- Adoption
- Insufficient
- Hype gap+30
- Incentives40
- Confidence50
Fed Chair Kevin Warsh said hyperscaler fundraising partly explains rising yields, as companies add about six times the Treasury's increase in bond supply. Pension funds and insurers that buy 30-year paper are being asked to fund both borrowers from a pool Employ America's Skanda Amarnath calls finite.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap+10
- Incentives
- Insufficient
- Confidence55
Scott Bessent told CNBC on Monday that humans, not the AI, are responsible, and that developers should not expect federal protection from liability. The industry's demand for a shield now has a public no from Treasury.
Perspective Coverage
3 publishers
- Builder
- Builder 28%
- Operator
- Operator 25%
- Investor
- Investor 47%
Reality
- Evidence72
- Adoption
- Insufficient
- Hype gap+30
- Incentives
- Insufficient
- Confidence65
The Fed took its target range to 3.75-4.00% on September 16 and raised its median PCE forecast to 3.7% in the same document, so the real cost of holding a metal that pays no coupon moved by about a sixth of a point.
Perspective Coverage
17 publishers
- Builder
- Builder 8%
- Operator
- Operator 25%
- Investor
- Investor 67%
Reality
- Evidence78
- Adoption60
- Hype gap+15
- Incentives45
- Confidence75
Bond traders price about 100bp of further Fed hikes by next summer, with the 10-year Treasury yield up 121bp to 5.18% since the attack on Iran. Borrowers who planned around cuts are now betting against a Fed that voted unanimously to hike eight days ago.
Reality
- Evidence35
- Adoption
- Insufficient
- Hype gap+15
- Incentives35
- Confidence35
Earlier coverage
- The Fed hiked what it pays on reserves into a bond market already heading for 5%
Invest · September 22, 2026 · 1 publisher
- The Fed's quarter point lands a full point below the 5% 10-year Treasury
Invest · September 22, 2026 · 1 publisher
- Bloomberg's Levin argues government debt now constrains what the Fed can do
Invest · September 21, 2026 · 1 publisher
- Two-year yield at 4.75% sits just shy of the 4.80% peak rate futures markets are pricing in
Invest · September 20, 2026 · 1 publisher
- Warsh phoned Trump before raising rates to say the committee left him no choice
Invest · September 20, 2026 · 1 publisher
- Bond buyers put the 3-year 95 basis points above the funds rate the Fed just raised
Invest · September 19, 2026 · 1 publisher
- Goldman fell nearly 8.5% in the week the Nasdaq gained 0.7%
Invest · September 19, 2026 · 1 publisher
- Warsh and Fed board unanimously approve quarter-point rate hike to fight inflation
Product · September 16, 2026 · 1 publisher
- Korean investors bought $218m of three-month Treasuries in the month before the ten-year cleared 5%
Invest · September 15, 2026 · 1 publisher
- Warsh can quiet one seat on an FOMC that averaged 196 speeches a year
Invest · September 15, 2026 · 1 publisher
- Macro Risk Advisors puts an 8-10% price on Wednesday's quarter point
Invest · September 15, 2026 · 1 publisher
- Futures leave the Fed's surprise in an 11.5% chance of a hold
Invest · September 14, 2026 · 1 publisher
- Capital Economics's 30% drawdown needs the S&P multiple back at 13.7 times
Invest · September 14, 2026 · 1 publisher
- Bessent's howitzer line gives Warsh cover to hike into White House pressure
Invest · September 14, 2026 · 1 publisher
- Hike odds in the high 80s pull copper off its $14,500 record
Invest · September 13, 2026 · 1 publisher
- Front-end Treasury yields flipped from one cut to four hikes since late February
Invest · September 12, 2026 · 7 publishers
- A $1.17 trillion interest bill enters the argument against the Fed's next hike
Invest · September 13, 2026 · 1 publisher
- Government payrolls account for the whole of July's 23,000-job decline
Invest · August 29, 2026 · 3 publishers
- Core producer prices ran at a 2.4% annualized pace in August
Invest · September 12, 2026 · 1 publisher
- A quarter point in Tokyo would narrow the dollar-yen policy spread by about a tenth
Invest · September 12, 2026 · 1 publisher
- Three of August's five crypto leaders turned negative on the seven-day window
Invest · September 12, 2026 · 1 publisher
- Gulf Ministers Meet Iran Days Before Fed Decision Priced 86.5% for a Hike
Invest · September 11, 2026 · 1 publisher
- Galbraith reads the global bond rout as a forecast of Fed hikes
Invest · September 10, 2026 · 1 publisher
- Yields hit 4.93 per cent two days after Bessent invited traders to bet against him
Invest · September 10, 2026 · 1 publisher
- Goldman's post-Jackson Hole hike odds outrun its own forecast for a September hold
Invest · September 10, 2026 · 1 publisher
- Treasury aims a tripled $6bn buyback at lighter-traded 10-year and 20-year notes
Invest · September 9, 2026 · 1 publisher
- A $1,700 liquidity band will decide Bitcoin's $80,000 support before the Fed does
Invest · September 7, 2026 · 1 publisher
- Warsh's first Jackson Hole keynote moves September hike odds to 50-60%
Invest · September 5, 2026 · 1 publisher
- Warsh rations what the Fed says about its next move
Leadership · August 29, 2026 · 1 publisher
- Bitcoin's climb past $81,000 ran on $415 million of forced short covering
Invest · September 3, 2026 · 3 publishers
- Waller's 3.05% inflation trend takes 13 points out of the market's hike odds
Invest · September 3, 2026 · 1 publisher
- The Fed's Beige Book now rests US construction on data center capex
Invest · September 3, 2026 · 1 publisher
- Washington conditions chip tariff relief on Samsung and SK hynix investing in America
Invest · September 2, 2026 · 1 publisher
- At Jackson Hole, a Princeton economist asked bank regulators to vet frontier models before release
Invest · September 1, 2026 · 1 publisher
- The Two-Year Treasury Has Moved 85 Basis Points Ahead of the Fed, With Oil at $92
Invest · September 1, 2026 · 1 publisher
- Traders rebuilt a September Fed hike from 41.4% to nearly 60% in one week
Invest · September 1, 2026 · 1 publisher
- A RAS inhibitor wins FDA approval in metastatic pancreatic cancer at $39,800 a month
Science · August 31, 2026 · 1 publisher
- Tokyo's record 15.39 trillion yen of intervention bought 28 days below 160
Invest · August 30, 2026 · 1 publisher
- Gates's "no plan" essay calls for government action on AI workforce transition
Leadership · August 30, 2026 · 1 publisher
- Bank of Korea's governor: won at 13-month high, sees room for further decline
Invest · August 30, 2026 · 1 publisher