Everyone’s watching that show on Thursday. A 25 basis point cut? That’s basically a done deal, nothing to guess about. The real drama comes afterward—what Powell says when he speaks.

Will he just say “We’re done after this cut”? Or will he deliberately leave things vague and let the market figure it out? Don’t underestimate these wording games. He can toss out a single word and traders will read three different meanings into it. The market is just that sensitive—every word can stir up waves.