FOMC preview: a quarter point cut seems a fait accompli . But there's a wide range of market expectations regarding forward guidance. Analysts expect the policy statement will reiterate the Fed will "act as appropriate to sustain the expansion," while noting the labor market remains strong and that the economy is rising at a moderate rate, though inflation remains low. Analysts don't expect Fed Chair Powell will give much away in his presser. He's likely to repeat this is a "mid-cycle adjustment," while being vague on future actions. The many uncertainties that led to the July easing remain in place and should keep the FOMC monitoring conditions. Analysts also don't expect the median dots to move down and suggest another rate cut this year. Analysts do expect upward revisions to GDP estimates, and downward revisions to unemployment rate estimates.