Happy Fed Day! Today seems to be the most important day of the year… until the next Fed meeting, of course. I started my morning with this tweet and with the level of chatter out there surrounding the Fed meeting, I thought I should pipe in.
There’s no sense in predicting what might happen. The consensus is for 25bps hike but, we never know until the announcement comes. That’s why there’s a lot of volatility around this day. There could always be an element of surprise. But, what could be helpful is recapping what the Fed said and what the macro picture looks like.