FOMC

🏛 FOMC MINUTES — and why we're sitting this one out

What it is: not a rate decision. The Fed published the minutes of its September 15–16 meeting — the record of the discussion, released three weeks late.

Recap: rate went to 3.75–4.00%, vote 12–0. Core PCE 3.4%, headline 3.8%. Most participants expect one more hike by year end.

For the dollar: the tone is hawkish, so the bias is USD-supportive and gold-negative. But the decision is three weeks old — the market priced it in September. All that's left is wording.

Why we don't trade it:

Old information. No new numbers, only tone — and tone gets read differently by every desk.

The reaction is thin and usually reverses inside the hour. You get a spike, then nothing to hold on to.

Spreads widen and payouts drop exactly when you'd want to enter.

It's noise wearing the costume of an event.

❗❗❗The real one is October 28 — that's a decision, not a transcript. We prepare for that❗❗❗