In today’s Macro Minute, Darius tackles the ongoing question: Are markets adequately pricing in regime change at the Fed? He breaks down intensifying political pressure on Jerome Powell, the growing likelihood of an ultra-dovish successor, and what that means for the dollar, bonds, and risk assets. Darius also explains why traditional 60/40 portfolios are increasingly obsolete in this Fourth Turning environment—and how 42 Macro’s KISS model is designed to thrive. We close with a client Q&A on whether tariffs are truly inflationary and how long their effects linger in CPI data.