TMF I guessed 50bp cut the first time and I'm guessing another 50bp cut this time. Fed is behind and basing the decision on the beige book, not current events.
TMF i'm guessing the fed will do 25bp this afternoon and say we're optimistic about inflation but staying vigilant. also, labor market looks solid but not spectacular, so no need to cut 50 now but in the event of weakness in the labor market we are prepared to cut further if necessary.