Fed Holds Rates with Hawkish Dissents; September Hike Risk

Fed held rates steady but three dissenters wanted a hike. Chair Warsh signaled willingness to act, while bond market doubts persist. The 10-year yield hit 4.70%, steepening the curve. Market pricing in a September move. Pre-market futures mixed as traders await PCE/GDP data. This is the dominant macro driver for index and sector action.