Thierry Wizman says “the most significant thing” we might see from the FOMC meeting tomorrow is dissent in the ranks. “The doves are not in the majority…but there will still be a robust debate.” While he doesn’t expect a rate cut this week, he thinks this meeting could set the stage for cuts later this year. Thierry expects Powell’s comments to emphasize Fed independence as he nears the end of his term and considers his legacy.

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