Earlier posts, read from the bottom up for the chronology

  • 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

    • If you are just waking up, the main points, in (very, very) brief:

    • Federal Open Market Committee raised the target range for the Federal Funds policy rate by 50 basis points (bps), to between 0.75% and 1.0%
    • FOMC announced the start of the Bank's balance sheet runoff. The pace of runoff was confirmed today as $95 bn/month ($60 bn in U.S. Treasuries and $35 billion in Agency MBS). There is a three-month phase-in period.
    • At Powell's news conference he said a 75bp hike is not being actively considered
    fomc hawk