All three major US indices are in the green this morning (PST) following the conclusion of FOMC meeting and what came out of it. Federal Reserve left the rates unchanged as was mostly expected. They saw the economy and recent activity to be strong and do no forecast a recession at this point. The Chairman commented that Feds were careful and watching to see if the drop in inflation is sustainable and if more rate hikes are warranted to bring inflation down to 2% target which has a long way to go. The comments also suggested that Feds were not confident yet if current rate hikes were high enough to bring the inflation to target level but would make data-driven decisions to try and bring inflation down without damaging the economy. Rate cuts were not on the table now. In general, nothing unexpected or hawkish came out of the meeting and that is perhaps the reason why markets have reacted +vely. Besides, after 3 consecutive monthly declines, investors are perhaps counting on November to turn the tide.
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