Looks like the market called it right this time. JPMorgan Asset Management's Stephanie Aliaga summed up what most traders were thinking: everyone knew a hawkish cut was coming, and that's exactly what landed.

But here's the kicker - the Fed made it pretty clear they're not exactly eager to keep slashing rates anytime soon. The bar for future cuts? Set high. Really high.

What does this mean for risk assets? Well, if you were banking on easy money flowing back into markets quickly, you might want to recalibrate those expectations. The central bank's playing it cautious, and that tone tends to ripple through everything from equities to digital assets.

Anyone else feeling like we're in for a prolonged holding pattern?