Three Fed Officials Voted to Hike. The Dow Fell 1,100 Points.

Three officials voted to hike. The Dow fell 1,100 points.

The Fed held at 3.50–3.75% for a fifth straight meeting — but the vote was 9 to 3, the most dissents in one direction since September 2016.

Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas all wanted a quarter-point increase. Chairman Warsh, who had publicly asked for more open disagreement inside the committee, said afterwards: “I asked for a good family fight and I got one.”

The market’s answer was blunt. The Dow closed down more than 1,100 points, its worst day in over a year. The S&P fell 0.6%, the Nasdaq 0.5%.

Here’s why it lands on your desk: a split committee means the next move is genuinely uncertain, and Warsh has said he intends to give markets less guidance, not more. Uncertainty itself now has a price.

Source: CNN Business / CNBC

Everyone Is Watching the Drones. Almost Nobody Is Watching Who Trains Them.

Washington is pouring billions into FPV (first person view) and autonomous drones - but almost nobody is looking upstream: at who trains the pilots and the AIs that will fly them.

Immersed is quietly building that layer. Their ultra‑light 4K Visor headset and spatial computing platform capture thousands of hours of real human movement- exactly the data modern autonomous systems need to navigate complex 3D environments.

As defense money floods into FPV and expendable drones, the real leverage sits with whoever owns the human‑in‑the‑loop interface and motion dataset.

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The short end fell. The thirty-year went to a 2007 high.

The 30-year Treasury yield jumped more than 9 basis points to 5.193% — its highest since 2007 — while the 2-year slipped to 4.236%.

That combination is the whole story. Traders pushed the short end down because they think the Fed will hold for now, and pushed the long end up because they doubt inflation is finished. The 10-year settled at 4.657%, five basis points higher.

Warsh acknowledged the dynamic himself, noting that tightening in financial markets is doing some of the Fed’s work for it. That is a polite way of saying the bond market moved first.

If you are shopping for a mortgage or holding long-dated bond funds, the 30-year is your number, not the Fed funds rate. Yesterday it went to a level last seen before the financial crisis.

Source: CNBC / Yahoo Finance

He Posted It to 443,000 People

443K people saw Robert’s post: “Buy high sell low. Or: Buy low and get rich?” He chose option 2.

The data that judges yesterday’s decision has already landed

June PCE inflation and the first estimate of second-quarter GDP were both released at 8:30 a.m. Eastern.

The sequencing is unusual and deliberate on the calendar’s part: the Fed spoke first, the numbers arrived eighteen hours later. If the two point in different directions, the market has to reconcile them inside a single session.

Apple reports after the close, closing out a week in which Alphabet, Microsoft, Meta and Intel all delivered results. The Bank of Japan also meets today and tomorrow.

The practical read: by tonight you will know whether the bond market’s verdict yesterday was early or simply right.

Source: Bureau of Economic Analysis

The Grid Is Cracking. One Company Is Already in the Field.

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