No Dot Plot Today. The Words Are the Whole Signal.

There is no dot plot today. The words are the whole signal.

The Fed announces at 2 p.m. Eastern with no economic projections attached — so the statement wording and Warsh’s 2:30 press conference carry everything.

Most economists expect a fifth consecutive hold at 3.50% to 3.75%. But conviction has drained steadily: a week before the meeting, roughly 62% of market participants expected no change, with the rest pricing a hike to 3.75–4.00%. In mid-July that figure was above 87%.

Warsh has been blunt where he has spoken at all. He told Congress this month that policymakers have “no tolerance for persistently elevated inflation,” and criticised the Fed for letting prices run above target for five years. He has also promised to give markets less forward guidance, not more.

Here’s why it lands on your desk: with no projections to read, a single sentence about inflation tolerance will reprice mortgages, CDs and bond funds this afternoon. And tomorrow at 8:30 the PCE inflation print and second-quarter GDP arrive to judge whatever he says.

Source: CBS News / Morningstar / Kraken Economic Brief

The Switch Nobody Gets to Opt Out Of

The U.S. government is moving forward with the Digital Dollar.

And once the switch gets flipped - there is no opting out.

Every dollar tracked. Every purchase approved or blocked. Every account visible to Washington in real time.

Click here - there is still a way out but the window is closing.

Right now - before the system goes mandatory - there is still a legal way to move savings outside the Digital Dollar’s reach entirely.

No government switch can touch it. No programmable restrictions. No expiration date Washington can set remotely.

A confidential guide explains exactly how - step by step - before this option disappears.

Click here to get the free guide before it gets taken down.

Every day the switch gets closer to being flipped.

Every day the opt-out gets harder.

Don’t hand Washington full control over savings without reading this first.

Microsoft and Meta report into a market that just stopped applauding

Yesterday the chip trade broke: SK Hynix fell as much as 13%, Samsung 10%, Nvidia 5%.

The trigger was money, not demand. Nvidia slid on reports it is discussing roughly $250 billion in financing guarantees tied to an OpenAI data-centre project. Investors read that as the industry underwriting its own customers.

Alphabet already showed what happens next: it raised 2026 capital spending guidance to around $200 billion and the stock fell anyway. Deutsche Bank expects Microsoft to lift its own figure to $238 billion from $215 billion.

If you hold an index fund, these two reports land after today’s close and will set the tone into August. The question is no longer whether AI grows. It is who pays, and when it comes back.

Source: Bloomberg / CNBC

Tesla Rebuilt a Working Robot Hand. The Reason Is $725 Billion.

Tesla already had a working Optimus hand.

Then Elon’s team rebuilt it from scratch.

Why?

Because Big Tech is preparing to spend roughly $725 billion on AI infrastructure this year— and two analysts believe that money could fuel the final, most explosive phase of the AI boom.

The redesigned hand may be the clue everyone missed.

Gold is stuck under four thousand one hundred, and the reason is the dollar

The metal has traded below that line since July 14 as the dollar held near a one-month high.

Rate expectations now drive gold more than conflict headlines do — which is why this afternoon matters to it. A hawkish statement strengthens the dollar and keeps pressure on the metal. A softer one does the reverse, quickly.

The 10-year Treasury yield sits near 4.63%, close to its highest since January 2025. Underneath the price action, central banks have kept accumulating gold through every week of the decline.

The reason it matters: the same force pressing gold down this month is the one official buyers are positioning against. They are not trading this afternoon. They are positioning for the decade.

Source: FXEmpire / World Gold Council

The 1974 Deal That Ran the Dollar Quietly Expired

In 1974, Washington and Riyadh struck a deal that quietly governed the entire financial world for the next fifty years.

Then, in June 2024, the arrangement came up for renewal.

Nobody signed.

They simply let it lapse.

Saudi Arabia inked a $7 billion currency swap with China… began settling oil in digital yuan… and plugged into mBridge, Beijing’s cross-border payment network.

I can tell you this is one of those moments.

Because if oil no longer requires dollars… the world no longer needs to hold them.

But do not run out and buy bullion at these prices.

The real leverage sits in a small group of miners still priced as if gold were under $2,000… while it trades near all-time highs.

Go here for the four best-positioned picks before the gap closes.