I expect Powell’s speech and the markets reaction to be a total nothingburger snoozefest. You have had all the talking fedheads for the last two weeks acting mostly hawkish. Powell may not echo that but he isn’t going totally doveish either. He will be neutral to slightly hawkish which is already reflected in everything. Start your weekend and ignore the meeting and all the media hype. Total snoozefest until August is over and probably until we get back from Labor Day weekend on Sept. 6th. That’s when the fun begins.