FED & Powell being somehow indirectly accused by Biden on failing to control the inflation. Clearly, FED's earlier rate hikes looked not effective on controlling inflation as last 2 months CPI remained above 8%. They would probably change their minds from 75bp to 1bp to prescribe a stronger medicine to tame the inflation faster before November deadline. Wallstreet is expecting it & thus pushing forward to sell down on the last 3 days.
If 75bp is decided, markets will rise due to oversold positions earlier.
It's fun to see how things turns out at 1bp rate hike đ¤
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