SUMMARY OF FED DECISION (4/29/2026): 1. Fed leaves rates unchanged for the 3rd straight meeting 2. 4 Fed members dissented on the Fed's interest rate pause for the first time since 1992 3. 3 Fed members did not support the inclusion of an "easing bias" in the statement 4. Fed says Middle East developments are contributing to a "high level of uncertainty" 5. Fed specifically notes concern over increase in energy prices 6. Fed replaces "somewhat elevated" with "is elevated" in reference to inflation The Fed appears to be bracing for more inflation.(The Kobeissi Letter)