According to Golden Finance, Johns Hopkins University economist Steve Hanke believes that the market has already priced in a 25 basis point rate cut from the Fed next Wednesday. He believes that a 25 basis point cut could trigger a "sell the news" event in risk assets.

Hanke argues that the market expects a 25 basis point cut, which means the actual rate cut could disappoint the market, leading to a "sell the news" reaction. He believes that a 50 basis point cut, which the market isn't expecting, would likely push the market higher.