An inter-meeting Fed cut?

The release of the FOMC minutes should put an inter-meeting cut in the cards. Why? Either, they will appear to be too sanguine in their assessment of the economy, thus looking like idiots, or they will express concern, thus indicating a willingness to cut.

They'll probably look clueless, so then they'll have to show they are not. The only way to show they've gotten religion is to cut, and do it inter-meeting.

Think about that when they release the minutes at 2:00 EST today.

I'd put the over/under on a rate cute by this weekend.

And make it a nice vacation.