The Fed Wants a Rate Cut

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I'm sorry, I tried to get a market update out earlier about the buy program, but everyone was busy. That is no excuse for messing this up more and on top of it…shorting it. What killed me was when the PPI rose less than expected. 

This was another case of front-running the number and a great example of not fighting the Fed. 

Powell & Co. want that rate cut, and hell or high water, they are going to get one — if not more. The CME Fed funds show a 55% chance of a 0.50% cut in September as traders speculate between 1 or 2 cuts — not zero cuts. This will be a huge ‘sell the news’ event, in my opinion.