the market is pricing in a near certainty that he will cut - if he isn't going to cut then he needs to come out with some kind of hawkish statement indicating that he's not ready yet - otherwise we could see tremendous instability - i suspect we could see the wildest swings ever if he doesn't cut.
sure, the future of this planet hinges on 25bp wwwaaaaaaaaaaaaaaaaaarrrrrrrrrrrffffffffffffff!!!!!!!!! mesays no need for a cut till he's got more data at hand... MoM NFP's pretty unreliable... and yes please, let's have the wild swings!!!!! how am i gonna make $$$ otherwise??
Look for your clue on Sunday's 60 minutes interview with Mr. Greenspan. Recession; Inflations; Bail out; I know I can't wait to see it.
The Fed does'nt need to explain anything. The writing is already on wall and everyone can read it. If they cut they will just make things worse. But, all the crybabies on wall street can wine until their blue in the face because they are getting the short end of the stick sorta say. WAAA wAAAA they can all go bakrupt for all I care. They deserve it what they waged! I have no sympathy for these large spineless sloths.