When the words stop moving, the only variable left in a Federal Reserve (Fed) statement is the arithmetic of the vote. The market read three hawkish dissents as dovishThree officials voted for tighter policy, and the price of tighter policy came down. The man installed to make money cheaper has presided over one of the sharpest intermeeting tightenings in market rates in 20 years and called it a change for the better. If interest rate policy is the primary instrument, how much accommodation is the Committee getting from the balance sheet? It is whether a chair whose only signal is the vote tally can keep winning it while the long end raises the price of standing still.