Please text and tell us what you like A surprise rate cut without fresh data sounds bold on the surface, but the real story lives in the yield curve the Fed doesn’t control. We unpack why trimming the short end won’t guarantee cheaper mortgages or easier financing, how long-term yields respond to inflation expectations and Treasury supply, and where tariff rulings at the Supreme Court could tilt the outlook. Rather than chasing a tidy headline—“rates down, stocks up”—we map the messy mechanic...