As expected the Fed has raised the Fed Funds rate by 1/4%–but has included somewhat hawkish verbiage in the statement implying more hikes to come. Anyone looking for a pause needs to keep hunting for one I guess.
Stephen in a comment this morning hit it perfectly–“the Fed held the increase to 1/4% (versus 1/2%) in exchange for a hawkish tone”–he hit the nail right on the head.
As expected the S&P500 has gyrated around on the news–interest rates haven’t moved too much yet.
So we have that out of the way until the next meeting which will be March 21/22—so back to ‘normal’ business tomorrow.