FOMC update - uncertainty reigns supreme

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FOMC update - uncertainty reigns supreme

The US Federal Reserve held its funds rate target range unchanged at 4.25% to 4.5%


Fed Chair Jerome Powell downplayed mounting growth concerns and that inflationary effects from the trade war will be transitory.

Powell reassured markets that the US economy was still solid according to “hard data’ and that long-run inflation expectations remain well anchored.

Powell’s stance calmed financial markets. The SP 500 moved higher as Powell spoke, and Treasury yields moved lower.