As we outlined last month, based on an analysis of the futures market, the expected value of the Fed’s rate cuts over the next six months had dropped, with an 80 percent chance of a single, quarter-point rate cut by the end of the year.

And yesterday, the Fed affirmed our analysis, again, an affirmation that was “breaking news” to those who didn’t see it coming or were misled. We’ll keep you posted, plugged-in and informed to act.

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