Fed disappoints markets by sounding more ‘neutral’ than dovish
Federal Reserve Chairman Jerome Powell holds a news conference following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, U.S., March 20, 2019.
Jonathan Ernst | ReutersWhen the Fed, as expected, cut interest rates by a quarter point, it disappointed markets because it did not tip its hand on future rate reductions.
Bond yields fluctuated, but were off lows of the…