The real story (https://www.marketwatch.com/story/all-eyes-are-now-on-the-bond-market-as-oil-prices-fall-will-the-fed-hike-rates-1be0b1f5?mod=mw_rss_topstories) — it's *where the bond market is repricing*. Oil falling means inflation pressure eases, which means Warsh doesn't have a geopolitical excuse for the rate ceiling.

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