Actually gold is a bit smarter than it used to be, it calculated...

Actually gold is a bit smarter than it used to be, it calculated all the inflation from covid printing very quickly in about 4 months going to the August 2020 peak, now it's waiting for the fed pivot, I would not be surprised if they paused this meeting, things are already deflating, they jawboned more to make the market rise the rates rather than them. My guess is they planned to only do .25 hikes and they did a .50 hike and will assume it still needs time to do it's work in the market and they can say they can pause for a month because their last hike was double their guidance so they can say the 50 point is like 25 over two months. They are just pretending to fight inflation, they know they can't win when their banking model is based on around 5% inflation but reporting it as 2% allows that 3% difference to go to them without many people knowing.