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Oct 29 2007 12:00am 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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