Just 20 minutes until the 75 basis point rate hike–we all know that will occur. What we don’t know is how Powell will parse his words at the press conference.
I am guessing they will refrain from sounding dovish–the data, while occasionally softer than expected, remain strong–in particular employment. I am looking for market disappointment with a strong downdraft in the next day or two–but honestly who really knows.
Of course I am ‘standing down’ from market activity–nothing I could do will alleviate potential pain–I have had decent gains the last week which could evaporate soon–what is one to do?