● FED MINUTES SHOW UNANIMOUS HAWKISH HIKE

The Federal Reserve's September 15-16 meeting minutes, released October 7, show all 12 voting members unanimously backed a 25-basis-point hike to a 3.75%-4.00% target range. Officials called inflation risks "skewed to the upside," pointing to AI-related investment as a pressure point, and most participants said another hike would likely be needed by year-end. Long bonds like $TLT are already pricing in the hawkish shift.