The Federal Reserve is set to announce a critical policy decision today — hike (possibly), pause (likely), or cut (probably not). The Fed has made 10 consecutive rate hikes leading up to today, making for one of its most aggressive tightening campaigns ever. Tuesday's cooler-than-expected inflation data is still double the Fed's 2% target, which suggests there could be more hawkishness ahead. Meanwhile, Wharton professor Jeremy Siegel suggested in a separate note that the Fed may actually be done with policy tightening altogether. He explained that, since he doesn't see a recession, the stock market could actually rally higher across all sectors because of investor FOMO.

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Persons: Jerome Powell, David Bahnsen, Mohamed El, —, Christopher Waller, Wharton, Jeremy Siegel, Powell, Goldman Sachs, David Solomon, Tom Lee, FOMO, Read, Warren Buffett's, they're, Qatar's Sheikh Jassim, Jim Ratcliffe, Max Adams, Hallam Bullock, Nathan Rennolds Organizations: Federal, Reuters, Bahnsen, Reserve, Spar Group, Capital Economics, Berkshire Hathaway, Manchester United Locations: New York, London