This is how Goldman's trading desk summarized today's FOMC statement and the Powell presser: "Hawkish Statement & Walkback Presser." Goldman FICC/equities trader Giulio Esposito explains:
No change in Fed Funds rates with FOMC voting unanimously to maintain tgt range of 4.25%-4.50% a widely anticipated outcome as heading into this meeting, the mkt priced the 1st full 25bps cut all the way to June.
Importantly, the Statement pushed DXY/2YR Yield higher & SPX down to sessions lows pre-Presser as it:
