What's the Fed going to do today?

[swag]

I think they'll cut the target Fed Funds rate by 25 basis points and vaguely acknowledge in the bias statement that recent developments (subprime, credit crunch, labor market softness) pose risks to economic growth, while reaffirming their vigilance against inflation.

[PassingFair]

1. Yes.

Do not look at the Euro passing us on the right.
Look only in the rear-view mirror. Dollars in the
rear-view mirror are smaller than they may appear.

[swag]

2. If only Jean Baudrillard were still alive, on the Fed, and in charge of bias statements

[swag]

3. Well, we'll know in a few minutes, won't we?

[swag]

4. Well, I blew it, eh?