Previous posts on the FOMC and Powell on Wednesday (US time), read from the bottom up for the chronology

  • US stock markets rip higher as Powell rules out 75 basis point hike
  • Nasdaq ticks above 100 hour MA. Move above and stay above would give the buyers confidence
  • Headline trading is back
  • Beaten risk assets are beaten down and were just tossed a life raft. They need to grab it
  • US 2-year yields fall 10 basis points as Powell dials back rate hike expectations
  • Levels in markets as Fed's Powell ends his press conference
  • USD moves lower as Chair says sees 50 bp hikes at the next 2 meetings
  • Powell Q&A: Powell: We are not actively considering 75 bps rate hikes
  • Powell opening statement: Inflation is much too high
  • Levels at the start of the Fed Powell press conference
  • US stocks bit higher. US dollar a bit lower in the initial reaction after FOMC decision
  • FOMC statement from the May 2022 meeting: Fed hikes by 50bps
  • Federal Reserve hikes rates by 50 basis points, as expected

    • Goldman Sachs revision:

    • Chair Powell said that 50bp increases in the funds rate should be on the table at the next couple of meetings
    • We already expected a second 50bp hike in June and are revising our Fed forecast to include a third 50bp hike at the July meeting too

    GS were at +25bp for July previously