CHANGING THE PIVOT TO 'STEP-DOWN'

The 'tourist reviews what the market is focusing on for this afternoon's FOMC meeting

It’s that time again. Time for all the armchair Federal Reserve experts to opine about proper Fed policy before this afternoon’s FOMC meeting.

I have no desire to debate what the Fed “should do”, but I am extremely interested in what they “will do”. Even more importantly, I will watch for clues about future policy.

It’s actually quite refreshing, but the…