There was one notable question at the post FOMC press conference.
At the post FOMC press conference, Michael McKee of Bloomberg asked Fed Chair Jerome Powell "Are you ruling out the rate cuts that the market has prices in?"
Powell responded "We on the committee have a view that inflation is going to come down not so quickly. It will take some time. And in that world, if that forecast is broadly right, it would not be appropriate to cut rates and we won't cut rates. Markets from time to time have been pricing in quite rapid reductions in inflation. We factor that in but that's not our forecast."
The bond market ignored those comments, going so far as to accelerate the pace of rate cuts.
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