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REDDIT
Oil dropped 8% this morning, does that actually change anything for the Fed on Wednesday?
Oil dropped about 8% this morning on the Iran de-escalation news, WTI back near $83. Odds of a hike later this year had jumped to something like 38% last week purely because oil broke above $100. Two days before the Fed meets Wednesday. Does one morning of price action actually move the needle for a data dependent Fed, or does this make Wednesday more boring than people are positioning for? Curious how everyone's reading it.