As Always, Beware the F_E_D knee-jerk reaction

Whenever we have an F_O_M_C or F_E_D related event, I ALWAYS warn and have for a half dozen years to beware the initial knee jerk reaction which can last minutes or days. We not only have the minutes from the F_O_M_C's June meeting, but we also have:

San Francisco Federal Reserve Bank President John Williams outlook speech in Los Angeles. Both at 2 pm today.