Policy Path (Market-Implied, Atlanta Fed)

The policy question has three sides: what a rule prescribes (taylor_rule_v1), what a committee deliberates (the FOMC institution template), and what the market prices — this operator. It reads the Atlanta Fed's official SOFR-option-implied tracker: the rate distribution per quarterly reference period, cut/hike odds, and the implied terminal with its gap to the current range. Put all three on one canvas and the gaps between them are the reading.