It’s Fed-Day

The expectations are that the Fed will cut rates by 75 basis points this year with the first one coming today.

PRE-OPEN MARKET COMMENTS FED-DAY - I believe the Fed will cut rates by 25 basis points today and signal a willingness to cut rates again this year if conditions warrant it. They are in the driver seat and that is where we want them. Inflation has been easing and economic conditions are stable. The market is within striking distance of the all-time high and there aren't any credit concerns. If the Fed doesn't cut again this year, it's a good thing. It means that economic conditions are strong. I would be more concerned if the Fed feels the need to cut again. Global economic growth is very tenuous and if they ease it is because they see trouble ahead. That is a very slippery slope for the market.

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