The FOMC met yesterday and this morning regarding the state of the economy. The markets are currently pricing in an 80% chance of a 25 basis point cut. So far, the markets are up about 100 points prior to the announcement in approximately 60 minutes. Personally, I hope the Fed decides to hold firm and leave that bullet in its chamber. The markets need time to work through the 300 basis points the FOMC has cut over the past 6-7 months. It takes the economy approximately 6 months to feel the full effects of a rate cut (at least, that’s what I remember from basic macroeconomics). With GDP holding steady at +0.6%, I think the fears of recession are on their way out the door. Stay tuned for the announcement!