FED meeting - next rate cut?

Tomorrow is next FOMC meeting and widely expected interest rate decision. Last couple of days shares have rebounded after sell off triggered by credit markets turmoil.

Last FED meeting cut was not so optimistic as accompanying speech didn't predict further rates decrease. But since that many things have happened. Crude oil pull back from record high, credit market fear, weak housing market and consumer spending. If you look at the chart, Fed fund rate (4,5%) is tightly "catching on" long term US bond, 10 year treasury note (^TNX). Latest market price is 4,15%.

My personal expectation is that FED will cut by 25 basis points.