The Washington Post tells us what’s up:
This is . . . a wee bit hyperbolic, no? I mean, the Fed is pondering a quarter percent rate cut that’s been long since priced in by the market. Whether you agree or disagree that this is the right thing to do, it’s simply not likely to have much effect, and isn’t really much of a gamble at all.
Now, if the Fed really wants to move the markets, they’ll surprise everyone and announce a half percent rate cut. That would get the chattering classes chattering.