Any thoughts boys and girls? We got 2 hours to kill. Highly likely a non-event but "shock and awe" does have the word "shock" in it so I feel obliged to be here. https://multimediafiles.kbcgroup.eu...unrise_market_commentary_0900dfde8028b215.pdf "The FOMC meeting might pass without too much fuss, even if surprises are never excluded. In its Jackson Hole speech, Bernanke said that the conditions for stronger growth in 2011 were still fulfilled. He also said that the FOMC had tools to address deflation risks (which he didnât see) or a significant deterioration of conditions in the economy and labour market. He made clear that the Fed would not be afraid to use these tools (more QE) if needed. Since the speech, the dataflow was better-than-expected and suggested stabilization in the economy. Given the opposition to further measures by a number of regional Fed governors and Bernanke probably looking for a broad agreement on future policy changes inside his FOMC Committee, we donât expect the Fed to announce new measures today. Acting now might unsettle markets as investors might see the Fed action as evidence the economic outlook is dire or deflation risks higher than thought. We suspect the Fed wants to avoid such an interpretation. So, the FOMC statement might be broadly similar to the August one. No big changes in the economic and inflation assessment, confirmation that rates may remain at their exceptional low level for an extended period of time and that the coupon receipts and the maturing MBS paper will be reinvested in US Treasuries."