Matching market expectations, the Federal Reserve’s decision to hike rates by 75bps had a minimal impact on financial markets. However, the relatively dovish tony struck by Chair Powell during his press conference sparked a pullback in US yields and the Dollar, while risk assets rallied.
The Fed chose to offer less “clear guidance” for upcoming FOMC Meetings, and will instead look to make decisions meeting-by-meeting based on incoming data.
Check out our FOMC recap for a deeper insight into the US central bank’s latest decision and how it could affect markets: