The Fed's 25 bps interest rate hike was expected, though the unanimous decision was not, says Michael Reinking. He highlights the "confusing story" he sees in what the FOMC projects to be a "timelier" return to 2% inflation. On the AI trade, Michael sees momentum very much intact, pointing to headlines from neoclouds like CoreWeave (CRWV) and Nebius (NBIS) signaling demand is going nowhere.