Episode 4 of FOMC Season 2019 airs this morning 11pm PST and it looks like the Fed is backed into a corner. A failure now to suggest a rate cut later this year - or a pivot back to even a neutral stance - could cause a violent selloff by markets, but if Jerome Powell does flag the plans, he will be accused of caving to President Trump, who has been relentless in excoriating the Fed and demanded that it reverse rate hikes made last year. More drama? Asked by reporters outside the White House yesterday if he wanted to demote Powell, Trump said "let's see what he does." (SA)

Amazon is leasing another 15 737-800 cargo aircraft made by Boeing through a partnership with General Electric Capital Aviation Services.  The aircraft will be in addition to the five Boeing 737-800s already leased from GECAS, announced earlier this year. By 2021, Amazon Air will have a portfolio of 70 aircraft flying in their dedicated air network. (WSJ)

Adobe on Tuesday reported upbeat quarterly results driven by strength in its digital media unit, but delivered a soft outlook for the current quarter. The California-based company said revenues rose 25 per cent year-on-year to a record $2.74bn. Revenues in its largest division, digital media, which includes its creative cloud tools and photo-editing app Photoshop, rose 22 per cent from a year ago to $1.89bn.  (FT)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.