Fed Unlikely To Cut 75 BPS At March 18 Meeting - IP WSJ Wednesday, March 05, 2008 8:49:00 PM Sydney, March 6: Fed-watcher Greg Ip writes in today"s Wall Street Journal that the Fed is unlikely to consider lowering the Fed Funds rate 75 BPS to 2.25% at their March 18 meeting, as it could inflame inflation expectations even though the markets have started to price in a possibility of a steep cut. He says that economic data would have to seriously deteriorate in the next two weeks before the Fed would consider such a steep cut. Ip seems to suggest that a 50 BP is the most likely outcome given recent Fed rhetoric showing deep concern about the US economy. Ip does say that a smaller cut of 25 BPS may "also be on the table" and would likely get support from some Fed officials who are especially worried about inflation pressures. He adds that a smaller cut could "trigger a negative reaction in the markets".