Markets Rethink Peak Tightening as Fed Holds Rates Steady and Powell Hints at Pause
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Markets are reconsidering if policy tightening has peaked after Fed leaves rates unchanged and Powell's comments.
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Powell noting bond yield rises doing Fed's work suggests rate hikes may be over.
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But 10-year yield still above moving averages, signaling higher-for-longer outlook may persist.
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Policy still relatively tight compared to history, providing room for status quo on rates for now.
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Macro factors like inflation data and geopolitics crucial for determining path of rates going forward.