Now, let's get a trader take with regard to what's happening given the Fed interest rate decision, the commentary around that, and everything else we've heard from our all-star panel. Steve Graasso, CEO of Grasso Global, also a CNBC contributor, often seen on Fast Money. Take us through what your initial read has been given what you heard about the rate story, what you heard about the commentary in there, and what you've heard from our panelists so far.>> So, anything less than a cut would have been a probl ...

Economic Overview - The economy presents a strong headline snapshot, but closer inspection reveals concerning underlying data [1][2] - GDP reading shows 3%, largely a reversal from the first quarter [1] - The economy is basically at full employment, satisfying one of the Fed's dual mandates [1] Consumer Spending & Investment - Consumer spending is described as "okay" rather than strong [1] - Investment number was down 15% [1] - Consumer-driven companies are not having robust quarters, indicating consumers are feeling the pinch [9] Labor Market - Jolt data indicates a loss of 280,000 jobs in the system [1] - There were 260,000 less hires last month [1] - 150,000 less people quit their jobs, suggesting a less optimistic view of the economy [1] Inflation & Pricing - PCE and CPI numbers were warm, slightly higher than expected, but within an acceptable range [1] - Import numbers offset each other, from -4.7% to +5% [1] - Costs will ultimately be passed down to the consumer, as companies will not decrease their profit margins [4][5] Company Performance Indicators - UPS is a good indicator of e-commerce activity and last-mile delivery performance [8][11] - Starbucks numbers reflect consumer discretionary spending [8] - Whirlpool numbers indicate consumer willingness to upgrade appliances [9]