In this week’s Trading Take, Beimnet Abebe from Galaxy Trading and Alex Thorn from Galaxy Research unpack the Fed’s latest rate decision and its mixed signals on growth, unemployment, and inflation. With only two cuts projected for 2025 and uncertainty looming over fiscal policy, stagflation concerns are rising. Meanwhile, Bitcoin has been stuck in a tight range, lacking strong buying flow as markets digest shifting macro conditions. Beimnet and Alex also discuss the gold rally, central bank positioning, and what’s next for risk assets.