Fed's hawkish tone and its broader market implications

The latest rhetoric from the Fed seems to be solidifying expectations for higher rates for longer, despite some of the recent CPI prints cooling slightly. It feels like they're committed to stomping out inflation definitively, even if it means some short-term pain for risk assets. This hawkish tilt continues to pressure growth stocks, as evidenced by $COMP trading down to 11.32 today and even $NFLX struggling to hold its own at 75.59.

I'm largely watching for how this translates into sustained dollar strength versus emerging market currencies like $KESUSD, which is showing a slight rebound today to 0.00773754, but I'm cautious on its sustainability. The carry trade might get more attention if developed market rates continue to climb. My watchlist is leaning into names with strong free cash flow and less reliance on cheap credit.