Traders were in for a choppy session despite a Fed meeting and presser that could ultimately be summed up as “wait and see”. The FOMC chose to keep interest rates steady at 4.25%-4.5% in a widely expected move, stressing the increased risks of both higher inflation and higher unemployment. While the issued statement touched on a ‘solid’ labor market and underlying pace of economic expansion, the Fed Chair faced pointed questions on how much further weakness we need to see to warrant a cut and t…
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