The Fed is currently in “wait and see” mode. Essentially, all the weighted data on their dashboard is significantly lagging behind the real situation—and that’s the situation.

They’ve drifted away from the idea of “preemptive monetary policy,” which they emphasized during the first rate cut last year, right before the election. Now, they’re unable to address problems before—or even as—they arise.

So back to the first principle of the topic, is US economy fine?