Note from the CIO - Post Fed Autopsy: What Happened? What Changed?

These are the two questions that investors should be asking themselves after Wednesday’s FOMC meeting. The equity and rate markets rallied after the statement was released at 2 PM EST, but then quickly reversed course as Chair Powell spoke during the press conference. Let us analyze the substantive changes (if any) of monetary policy that occurred, and what the investment implications from the shift may be.