US inflation has cooled sharply.

Real-time inflation data shows CPI running around 1.7%, far below what markets were dealing with not long ago. That’s already under the Fed’s long-term comfort zone.

Yet rate cuts are still being delayed.

This disconnect is what frustrates markets. Tight policy made sense when inflation was hot. Keeping rates restrictive while inflation is already low increases pressure on growth, risk assets, and liquidity.

Crypto, equities, and startups all feel this drag first.

The longer policy stays tight after inflation cools, the higher the risk of overcorrecting the economy.

Markets aren’t asking for reckless cuts.

They’re asking for policy to match reality.

At some point, patience turns into unnecessary damage.