Markets Watch as Powell Prepares to Speak on Fed Day.

It’s Fed Day, and the world’s eyes are on what the Federal Reserve has to say about hiking, pausing, or cutting interest rates. After 10 consecutive rate hikes leading up to today, the Fed has seen one of its most aggressive tightening campaigns ever. Markets have been eyeing a pause even before this week’s cooler inflation reading, and investors think the odds of the Fed holding off today spiked even higher after the CPI report came out. The CPI report suggested that inflation has been defeated, although economist Mohamed El-Erian, a vocal Fed critic, believes skipping a rate hike today would be the Fed’s worst possible move. Meanwhile, Wharton professor Jeremy Siegel suggested in a separate note that the Fed may actually be done with tightening altogether. Signs of a weakening labor market could prompt Powell and co. to end the inflation fight, which could potentially prevent millions of jobs being lost. Lennar, Spar Group, and more are also reporting earnings on deck. Goldman Sachs has just named 24 stocks to buy and ride higher right now, and home prices could tumble in the second half of 2023. Manchester United stock surged double-digits on Tuesday.