A 50 basis point cut is now 50-50 for the Fed decision next week

The chance for a 50 basis point cut next week by the Fed is now up to 50-50 in volatile trading this morning.

At this time yesterday the chance of a 50 basis point cut was only about 20 – 25%. Then comments from Wall Street Journal's Nick Timiraos where he talked about the dilemma the Federal Reserve faces in either going big or going low ignited some speculation that he may have gotten a nudge from the Fed.

Overnight former New York Fed Pres. Dudley that thought a 50 basis points is a possibility as well.