It's probably a bit early to change the bias to neutral. I suspect they'll say there's still more risk of another downturn than there is for too much of an upturn. Maybe the next meeting is when you have them take away the cutting bias.
The Fed is that much closer to being done. I think they are done after next week.
This is what the Fed wants, they want housing to slow -- that is the place where they can most effect wealth creation and spending. The Fed is that much closer to being done. I think they are done after next week.