There is basically no suspense regarding this week’s Fed meeting; the market has priced in a 25bp rate cut as almost a certainty. But with things that are "almost certain," what truly determines the market trend is often not the action itself, but what Powell says afterward—whether he will provide a path for 2026 is what all assets truly care about.
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There is basically no suspense regarding this week’s Fed meeting; the market has priced in a 25bp rate cut as almost a certainty. But with things that are "almost certain," what truly determines the market trend is often not the action itself, but what Powell says afterward—whether he will provide a path for 2026 is what all assets truly care about.