The key to what happens at the October FOMC meeting is likely...

The key to what happens at the October FOMC meeting is likely to depend on jobs. Before we take a look at what might transpire later this month, here is a quick recap of recent Fed actions:In August the Fed surprised the market with a 50 basis point cut in the discount rate on options expirations Friday. The Fed then followed up with a surprise 50 basis point cut in the Fed Funds rate at the September meeting. The market was only expecting a quarter point cut. A tremendous rally in equities worldwide ensued. Nothing Fundamentally Has Changed.