The Fed rate decision is expected at 2:15 today. Fed officials are in a 2-day meeting to discuss their outlook and plans.
I managed to sneak into the meeting yesterday and overheard the following:
Fed Guy 1: What are we going to do?
Fed Guy 2: (quietly) Nothing.
Fed Guy 1: What are we going to say?
Fed Guy 2 (a little louder) Nothing.
Fed Guy 1: Nothing? Why?
Fed Guy 2: It's working, stupid.