According to @charliebilello, markets expect a 25 bps cut in Dec 2025 to 3.50-3.75%, holds in Jan and Mar 2026, a 25 bps cut in Apr 2026 to 3.25-2.50%, a hold in Jun 2026, and a 25 bps cut in Jul 2026 to 3.00-3.25%, source: X post dated Nov 11, 2025; bilello.blog/newsletter. This path implies three 25 bps cuts through Jul 2026, making these FOMC decisions key trading catalysts for crypto exposure and USD-liquidity risk management, source: X post dated Nov 11, 2025.