Powell Now A Fully-Trained Puppy Happy To Please Master Market

The Fed will be patient. Gradual increases went out the window. Gee who coulda thunk?

The Fed did not hike today as expected. Investors hoped for the word patient and the FOMC Statement said just that.

"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes. In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes."

Statement Tracker

The WSJ's Statement Tracker highlights the changes since the December statement.

(Click on image to enlarge)

As expected.

Fed Chair Jerome Powell is now a fully-trained puppy happy to please master market.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.