A hold that didn’t calm anyone down Investors expected a quiet Fed meeting. They didn’t get one. Interest rates stayed unchanged, yet the aftermath produced one of the sharper reactions in bond markets this year. To understand why, it helps to separate what the Fed said from what the Fed meant. This explainer breaks down the decision, the dissent, and what it signals about US interest rates heading into the rest of the year. Background: how we got here Federal Reserve policy has spent the past several years trying to…
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