Watch Live: Fed Chair Powell Explains Why The Biggest Liquidity Crisis Since Lehman Isn't Stopping

So having got the 'hawkish' statement out the door, all that's left is for Fed Chair Powell to get through the press conference without putting his foot in his mouth: admitting that this is a hawkish cut, and/or that the economy is considerably more fragile than investors think...

Oh and one more thing - how about the "transitory" liquidity crisis that continues at extreme levels of demand...

 

Fed Chair Powell is due to start speaking at 1430ET :