US stocks are starting to retreat a bit. Powell says "not appropriate to cut rates"

As a press conference continues, the US stocks have rotated back to the downside. Fed Powell said that "it would not be appropriate to cut rates, given our view that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term will take some time to come down"

• Dow industrial average is trading down -126.2 or down -0.38%
• S&P index is trading down -7.25 points or down -0.21%
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is up 13 points or down 0.11%

in other markets

• 2 year yield is down 2.7 basis points at 3.953%.
• The 10 year yield is down -2.6 basis points to 3.412%
• Crude oil remains under pressure and is down $3 or -4.19% at $68.68.
• Gold is up $3 or 0.16% at $2019.97.
• Bitcoin is trading at $28,255

More...after the meeting

Doubelines Gundlach says:

• Fed decision was noncommittal
• that is likely to keep rates around this level. Would bet that Fed won't raise rates again
• recession odds are pretty high right now
• expect default in a lower quality fixed income
• risk asset markets are too complacent
• I am turning more bearish given this cocktail of higher interest rates, quantitative tightening and credit contractions
• US is going to have a really big problem with debt
• I think the Fed should have done nothing today

Stocks continue to move lower (3:36 PM ET)

• Dow industrial average -231 points or -0.66%
• S&P index -20.68 points or -0.50%
• NASDAQ index -30 points or -0.25%