● FED MINUTES SHOW NO RUSH FOR OCTOBER HIKE

The Federal Reserve's September minutes, released October 7, show the committee split on timing after a unanimous 12-0 vote to raise rates 25 basis points to 3.75%-4.00% — the first hike since 2023. Most participants saw another increase as likely appropriate by year end, while stressing they will approach every meeting with an open mind. $TLT and long Treasuries face that uncertainty just as oil-driven inflation fears add pressure on the path ahead.