FOMC raises interest rates by another 0.25% as markets forecasted with Powell stating that the future of interest rate policy was not decided at all in the just-concluded meeting, raising investors' hopes for ending the hiking cycle.
Unemployment rate currently is similar to the time when Fed started raising interest rates in March last year while financial conditions currently much easier than in September last year.
S&P500 index has returned to levels similar to when Fed started raising interest rates, and this is not the outcome Powell wants in the fight against inflation.
