Watching EEM amidst the Fed's stance

It's interesting to see $EEM picking up a bit, currently at 64.32, especially given the recent Fed commentary. There's a subtle but palpable shift in tone, leaning towards a slightly more hawkish outlook than some had anticipated a few weeks ago. This usually doesn't bode well for emerging markets due to potential capital outflows, but we're seeing some resilience today.

I'm curious if folks are attributing this to specific regional news within the EM space, or if the market is just digesting the Fed's stance with a bit more equanimity now. My watchlist is definitely leaning more into defensive plays until we get more clarity on the rate path, but the action in $EEM is making me wonder if there's a disconnect or an early signal I'm missing.