The big question of the week is 25 or 50? No, we’re not talking about the age of Leonardo DiCaprio’s next girlfriend (obviously 25). We don’t have time to think about about girlfriends (or boyfriends) because we’re too busy thinking about Federal Reserve policy and whether they’ll go 25bps or 50bps at the next FOMC meeting. As I’ve noted in the past I think they should have cut in July and I think they actually regret having not cut in July so there’s a pretty reasonable argument that they should cut 50bps just to make up for the mistake. That’s what I would do if I were Supreme Leader of the Fed and I’d frame it ... (full story)