How about a shocker with either no rate cut or language that indicates no more are coming in the future
That would be a surprise but the fed will NOT surprise wallstreet. They will bow to wallstreet and give them what they want which is the 25 basis point cut.
The Fed is small potatoes compared to the “inside baseball” relationships that the ECB and the BOJ have with Banks.
The German government economic research results - most notably the ZEW Economic Index results, are provided to German Banks in advance of the public release. And they keep doing it despite German Banks getting repeatedly fined for German Debt insider trading infractions like cornering the physical market for deliverable Treasuries into the Eurex futures contracts (Commerzebank, Deutsche Bank). {Which blew out many independent and smaller basis spread traders} The ECB and BOJ closely coordinates interest rate and liquidity policy with Commercial Banks in private. So, imagine (they do not at present) the US Bank Desks having exclusive advance notice of all Federal Government economic research including the Civilian Unemployment Numbers, Beige Book, Consumer Sentiment, etc. etc.. Imagine the FED sitting down with JPM/Chase, GS, Wells Fargo, BoA, etc. behind closed doors in order to coordinate the Government's debt auctions, interest rate policy and timing, liquidity levels, etc..