Will POTUS truncate the Powell Fed’s fifth major policy mistake?

In today’s Macro Minute, Darius Dale breaks down why the Fed’s latest move may mark its fifth major policy mistake under Chair Powell. With ISM Services data softening and supercore inflation slowing, Darius warns of rising left-tail risks—and explains how the U.S. economy may not need cuts, but the market still does. He also discusses President Trump’s potential Fed Board picks and what that means for policy pivots.