Policy stalls, as their view of the economy catches up with reality.
The changes for the FOMC is that labor indicators are stronger, and GDP weaker.
Equities fall and bonds rise. Commodity prices rise and the dollar falls.Maybe some expected a bigger move.
The FOMC says that any future change to policy is contingent on almost everything.
The key variables on Fed Policy are capacity utilization, labor market indicators, inflation trends, and inflation expectations. As a result, the FOMC ain’t moving rates up much, absent much higher inflation, or a US Dollar crisis.
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