Why the Fed is boxed in. Tomorrow's FOMC meets against an 11% Kospi crash and Oracle CDS at an 18-year high — as AI capex already spooks credit markets. Markets price 65% odds of a hold, but Warsh lea

Why the Fed is boxed in. Tomorrow's FOMC meets against an 11% Kospi crash and Oracle CDS at an 18-year high — as AI capex already spooks credit markets. Markets price 65% odds of a hold, but Warsh leans hawkish, and the IMF just revised inflation up from 4.1% to 4.7%. The bind: a hold signals inflation is under control right as it accelerates. A hike slams risk assets already shaking from AI credi