The rate hike just raised the bar every company you own has to clear before spending.

📈 Gone hiking: The Fed lifted rates for the first time since 2023.
🏗️ Disciplined by default: High-return, self-funding companies trading below fair value.
🎥 Protect your portfolio: "How to protect your retirement from a 2026 recession."

The Fed just hiked for the first time in three years and signalled higher from here. The reflex is to read that as a drag on growth. But the more optimistic read, for a long-term investor, is that it raises the required return that every company has to clear before it spends a dollar. It’s now harder to justify empire-building acquisitions and vanity projects.

In effect, the Fed just imposed a layer of capital discipline across your whole portfolio. However, it only works where management is rational in their response.

Who's the best capital allocator in the market right now?