Markets price an 84% chance of the Fed raising rates today https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html https://www.cmegroup.com/marke

Markets price an 84% chance of the Fed raising rates today https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html https://www.cmegroup.com/markets/interest-rates/cme-fedwatch... , but the old saying is that the Fed would raise rates until something breaks, and we already have several banks being broken because of outflows from their low-interest checking accounts. The markets are pricing in 50bp of cuts by year-end. Why should the Fed take an action that it will soon have to reverse? I think the Fed should have been raising rates in 2021, but that ship has sailed.