Fed Announces 25 bps rate reduction, clarity reduced around future decisions.

The Fed dropped interest rates 25 bps, now 100 bps or 1% from the high, but future decisions are less clear. The fed guided to 2 net reductions in 2025 increasingly cautious for next year, but notable players like Apollo Management are now internally guiding to net rate INCREASES next year. The Fed's next meeting will be on January 29th, 2025, where only 11% of market participants are expecting another rate cut, with the rest expecting no change.