FOMC tomorrow and the market’s already acting like the script is written.

100% odds for no move. Clean. Predictable. Almost too clean.

Seen this setup before — when everyone agrees, that’s usually where things get interesting.

No rate change isn’t the story.

It’s the tone. One shift from the Federal Reserve can flip risk in seconds.

If Jerome Powell leans hawkish, liquidity tightens in perception before policy even moves. Markets don’t like that.

If he softens even slightly, that’s fuel. Risk assets won’t wait — they front-run.

Positioning is heavy on one side. That’s where squeezes come from.

This isn’t about rates anymore.

It’s about expectations getting blindsided.

Watch the reaction, not the decision.

That’s where the real move starts.