Fed FOMC Decision, Alphabet and Microsoft Earnings Headline Wednesday’s Calendar

The clustering of a Fed decision, a new chair's first press conference, and megacap tech earnings within hours puts macro policy and AI-capex narratives in direct competition for the same risk appetite. Warsh's communication style is the real unknown here, since a first press conference can reset how markets read the reaction function as much as the decision itself. For crypto and RWA markets, the transmission runs through rate expectations and the tech-risk proxy, so whether digital assets track equities or decouple around these events is the open question worth watching.