Fed Hints at Pause in Rate Hikes as Markets Price Out Further Increases This Year
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Fed leaves door open to more rate hikes but markets increasingly think central bank is done raising rates this year.
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Powell careful not to commit to additional hikes, says "Slowing down is giving us a better sense of how much more we need to do."
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Treasury yields hit 2-week lows after Fed decision, Nasdaq rallies as rate hike fears ease.
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CME FedWatch tool now sees 80% chance of no more hikes in 2023, up from 54% a month ago.
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Markets interpreting Fed statement as likely being done with rate hikes this cycle, interest rate sensitive assets like Treasuries rally.