The market is grudgingly giving the fed cover for a hawkish raise.   It tried to make a run at panic yesterday but couldn't muster much at the end of the day. Too much stimulus still in the system. The situation with the regional banks needs to be solved by policy, not the fed - They were completely transparent but the banks had bad management and it didn't raise depositors interest rates on the deposits when they should have so it depositors left... then it accelerated. Now they're paying the price. That's not the feds fault Meanwhile, we just got yet another hot inflation print. The Fed needs to keep their eye on the ball and I think they will, at least for this meeting. If they don't, the market will take off like a beaten horse. That's the last thing they want when they're in inflation fighting mode.