It's really difficult to tell if Powel has a political agenda or not in his decision to not move rates. He did only a rate pre-elections which some argued was a pro-dem take. Others really think he is going with the data and that he stopped lowering rates because of Trump's tariffs. In any case, oil is going down now, after the Iran event is done. We are already back below the massive descending triangle that lasts since 2022. A lot of people were short as it broke down and got caught during this event, so not some got liquidated and we are back down. What Powel does? probably keep delaying for more clearance, but there is never enough clearance to act, this is the thing with economy, you have to take a chance or you never invest, I think they are stuck in this mentality and so they are not able to take an decisions (and sometimes not doing anything is the right strategy).