"The fact that the 30-year Treasury yield didn’t fall immediately is weird and worrying. It took very weak payrolls to finally do that."

With so much riding on the Fed, it's crucial to not just celebrate a possible rate cut next week, but also chew on what Powell has to say about the economy.

"The fact that the 30-year Treasury yield didn’t fall immediately is weird and worrying. It took very weak payrolls to finally do that."

While there is little doubt about the outcome of the Fed meeting, there are still questions over who exactly will be voting.

With markets convinced of a Fed rate cut, Powell must navigate divisions inside the FOMC over inflation, tariffs, and jobs data.