The Fed maintains they are not considering a half-point cut in September, but many think such a large move is in order.

Deterioration in the labor market cements the Fed's path to interest rate cuts in September.

"The press conference today basically tells you that September [rate cuts are] going to happen unless the economic outlook changes materially."

"There's a tremendous amount of pain and many, many companies that are going bust because of the Fed's monetary policy."