This REALLY matters. If it’s a hawkish cut, the market will hate it. If it’s a dovish cut, it will be VERY bullish for small caps.

FOMC Today

The market is pricing in an 88 percent chance of a rate cut tomorrow, but the real question is whether we get a hawkish cut or a dovish cut. A dovish cut would signal room for more easing, while a hawkish cut would imply the Fed is tapping the brakes on further reductions.

Right now, futures show the next cut pushed out to April and only two cuts expected in 2026, a big step down from the four cuts analysts were ...