$NASDAQ(.IXIC)$  The Federal Open Market Committee (FOMC) is widely expected to announce a 0.25% rate cut, although my view is that a reduction should be in the subsequent meeting. Looking ahead to 2025, the committee will be signaling that further cuts will be more cautious and less frequent. The message remains that while the economy is showing resilience, inflationary pressures continue to warrant close monitoring.

From a market perspective, it's crucial to note that much (in fact All) of the potential rate cut is already priced in. As such, any deviation from expectations or hawkish commentary could result in a negative market reaction.

However, I feel that the exuberance we're seeing in the markets is somewhat disconnected from the underlying fundamentals. Despite a strong economic backdrop, I believe there's still insufficient justification for the current levels of optimism. I am staying cautious, as the road ahead may not be as smooth as the market's current sentiment suggests.