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Blogonomics: Paying Readers   The Return of Price Controls
Oct 29 2007 9:09AM EDT

Fed to Cut 25bp on Wednesday

What was that about Bernanke being unpredictable? The markets might not have known earlier this month what the Fed was going to do at its next meeting, but they're pretty certain now, with pretty much every house on Wall Street calling for a 25bp cut on Wednesday. This kind of unanimity has a self-fulfilling aspect to it, which makes the quarter-point cut all but a foregone conclusion at this point. Anything else would cause needless panic.

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