The Fed Is Fracturing
The Breakdown12 Des 2025

The Fed Is Fracturing

Today’s episode breaks down one of the most contentious FOMC meetings in nearly a decade. A deeply divided Fed delivered a rate cut that may also mark the end of the cutting cycle, with multiple dissents on both the dovish and hawkish sides and an unusually fractured dot plot. The conversation explores what the dissents reveal about competing inflation and labor-market risks, why Powell says the Fed is effectively flying blind without fresh BLS data, and how alternative data is shaping the debate. It also examines the quiet but significant shift in balance-sheet policy, as the Fed ends QT and begins reserve management purchases that many see as “QE that isn’t QE,” and what this hawkish cut, baby QE, and a broken consensus mean for markets heading into an increasingly uncertain 2026 outlook.

Episoder(2055)

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Tokenization’s Starting Gun

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Larry Fink makes his most explicit case yet that tokenization is entering its internet-1996 moment, and the rest of Wall Street is suddenly lining up behind him. Today’s episode looks at why this shif...

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The Walls Around Crypto Are Finally Cracking

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Today’s episode looks at how the traditional financial and policy apparatus around Bitcoin and crypto is shifting from quiet hostility to reluctant accommodation, and what that means for market psycho...

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November just logged Bitcoin’s ugliest performance since 2018, with a seasonally strong month instead turning into a mini crypto winter driven by thin liquidity, excess leverage, and global macro jitt...

2 Des 202512min

Bitcoin’s Fragile Recovery

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Bitcoin is climbing back from Friday’s drop, but the bounce looks weak and uncertain. Liquidity is shallow, flows are scattered, and the futures market just saw one of its sharpest resets of the cycle...

26 Nov 202511min

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