Before the FOMC announcement and before Fed Chairman Ben Bernanke's press conference this afternoon, I thought I'd give you my expectations ...
I expect a disappointment - potentially a huge disappointment.
That is: I don't believe the FOMC and Ben Bernanke will give the market what it wants.
In the last month or so, every bad piece of data or financial/economic development in the US and around the world has been met with one kneejerk reaction along the lines of:
"The Fed may support."
No new recommendations or adjustments at this time.