Post #2878

FOMC meeting in next 3 hrs, scheduled for 6 p.m. UTC. Fed’s decision will set the tone for this last quarter. There’s a 97.8% chance of a rate cut, and imo the market has already priced that in. What everyone’s really waiting for is Powell’s speech hawkish or dovish, that’s where the real action will be. The job market’s slowing down, inflation’s cooled off, and the government shutdown is hurting overall activity. The big thing today is that Powell is expected to end QT, just like he did back in 2019, which kicked off the last big risk-on rally.