Good morning everyone!
After having conducted a few trades yesterday we are back for the FED meeting later.

We don’t expect Powell to do much else than follow the markets’ bidding at this point. What I will be watching for is the rhetoric- I suspect Jerome Powell will attempt to reveal as little as possible regarding the guidance it may be a challenging task to do so and remain completely neutral and the Journo’s will push him.
But in all likelihood, we won’t get much unveiled from Powell today- maybe some voters will move their respective dot’s a bit lower but that is probably the scope of surprise I am willing to entertain today.
If am proven wrong  it would be at the back of data that shows a strong economy where activity still remains high despite waning price pressures- Take retail spending here via J.P Morgan’s tracker, despite credit card rates now at ~22% :

Chart 1: J.P Morgan Consumer Spending Tracker