In this clip from The Drift, tastytrade founder Tom Sosnoff breaks down a concept that most retail investors overlook: the Federal Reserve doesn't actually control interest rates the bond market does. Sosnoff's analogy is simple. If you want to sell your house for $500,000 but the best bid in the market is $200,000, the market has spoken. You don't get to unilaterally set the price. The Fed is in the same position. Right now, bonds are already trading at real market rates. Anyone including Adam Mesh, who mentioned buying bonds that morning can go out and transact at those rates today. But the Fed's official rate doesn't reflect where the actual market is trading. According to Sosnoff, that gap means the Fed has no choice but to follow. His conclusion: the Fed isn't leading the economy. It's chasing it. The market is what it is and the Fed has to catch up. Watch the full episode of The Drift on Benzinga's YouTube channel. #InterestRate #TomSosnoff #FederalReserve 🌐 Find more market-mo...