Powell says the time has come

I would have preferred cuts this month, but the Fed didn't listen to me.

I can't wait for the GOP to lambaste the Fed for being "political" despite the fact that this cut has been telegraphed for months. It will be a good outcome for stocks in general and for many sectors of the economy (interest sensitive markets). So one source of bad karma or "surprise" won't bedevil the administration and the Harris campaign in the fall.