For this week’s Trading Take, Beimnet Abebe (Galaxy Trading) and Alex Thorn (Galaxy Research) unpack the Fed’s latest 25bps rate cut, a move made amid growing concern over labor market softness and still-elevated inflation. They discuss Powell’s attempt to balance the Fed’s dual mandate, the limits of monetary policy when employment and price stability conflict, and the widening divergence in spending power across income groups. 

The conversation also explores the implications of dissent within the Fed, political pressures on future appointments, and what Fed independence means for the dollar, gold, equities, and crypto markets.