The excellent news is that the garrulous Federal Reserve audio system shall be restrained over the following fortnight, the dangerous information is that the speak and hypothesis concerning the FOMC will not cease.
It seems to be like we have heard the ultimate phrase from the FOMC and the backout begins at midnight ET.
We’re left with a market pricing in a 27% probability of a 50 bps Fed lower and solely subsequent Wednesday’s CPI report as a possible market mover, although I feel that is doubtful.
What that does not preclude is a leak to WSJ Fedwatcher Nick Timiraos or another person. Usually, that would not come till the Monday of FOMC week.
