Carlyle CEO Schwartz: Fed Unlikely to Start Aggressive Rate-Hike Cycle

Schwartz's read cuts against market pricing, which matters more for rate-sensitive pockets of crypto and tokenized real assets than for the broad tape. A Fed on hold, rather than tightening or easing, keeps the macro backdrop range-bound and leaves sector-specific catalysts — regulation, tokenization adoption, flows — to do the work. Whether the market's hike expectations or Schwartz's data-dependent view proves right is the open question, and the next inflation prints are where that gets settled.