The Federal Reserve released minutes from its June meeting. Officials were split on interest rates. Some wanted to cut. Others wanted to hold. A few probably wanted to raise but were too embarrassed to say it out loud.
None of this matters. The meeting happened weeks ago. The market already priced it in, then unpriced it, then repriced it based on a jobs report, then forgot about all of it when someone sneezed near a Bloomberg terminal.
Retail traders will spend tonight reading these minutes like they're the f*cking Dead Sea Scrolls. They'll highlight phrases. They'll debate the word "split" in Discord channels. They'll draw trend lines on charts that have nothing to do with Fed minutes because they saw a YouTube thumbnail with a red arrow pointing down.
Here's what the minutes tell you: twelve people sat in a room and disagreed about the future. Groundbreaking stuff. Really moves the needle on your $340 portfolio of fractional shares.
The Fed could announce rates in interpretive dance and it wouldn't change the fact that your technical setup was already telling you everything you needed to know before these minutes existed. Support. Resistance. Volume. That's it. But no, you needed Jerome Powell's colleagues to validate your 0DTE calls.
They were split. What a revelation. A committee couldn't reach unanimous consensus on predicting an unknowable future during an election year while inflation does whatever the hell inflation feels like doing. Stop the presses.
The minutes are 47 pages long. You won't read them. You'll read a tweet summarizing a headline summarizing a paragraph. Then you'll make a trade based on that tweet and wonder why you're poor.
The charts didn't split. They just moved. And you missed it because you were waiting for permission from a committee.
Photo by Yimeng Zhao on Unsplash
Leave a Comment