Is it almost certain that the Fed will cut interest rates next week? The market is more concerned about how to play the cards in 2026.

[Block Rhythm] Traders are now almost certain of one thing - the Fed will cut 25 basis points next Wednesday. Probability? Close to 90%.

Interestingly, Powell will appear at Stanford on Monday to participate in a memorial event for Schultz. However, don't expect him to reveal anything, as it is currently a quiet period before the decision, and he won't mention a word about economic topics.

The real highlight will be after the interest rate cut is implemented. Everyone is focused on what kind of dot plot the Fed will present—that will be the key clue to understanding the interest rate trends in 2026. What the market lacks now is not the answer to whether there will be a cut this time, but rather the direction of how things will proceed afterwards.