Thursday morning, the whole world is waiting for one word from the Fed

The market has already priced in "hawkish expectations" in advance, so the meeting itself is more like "bad news already reflected."
The key question is: just how hawkish is this hawk?

· If it only meets expectations (1-2 rate cuts): short-term volatility, things proceed as normal
· If it's more hawkish than expected (only 1 cut or no cuts at all): risk assets will come under pressure

Thursday at 2 AM, set your alarm. What you want to know isn't "to cut or not to cut," but how much longer they actually plan to hold out.
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