FOMC TLDR The Play: Rates held steady at 3.50% – 3.75%. No cut, no hike. The Vibe: Fed is pausing after the 2025 cuts to see if inflation actually dies. The Split: 10-2 vote. Two members wanted a cut, The Coping: Powell says high prices are just "tariff noise." The Forecast: Markets are betting on the next cut in June. The Succession News: Treasury Sec. Scott Bessent says a replacement for Powell could be announced in the "next week or so."(Lark Davis)