Market Briefing: Risk Appetite Stabilizes After Fed Decision, Dollar Remains Weak
All is not calm and all is not bright in financial markets this morning, but price action remains surprisingly restrained after yesterday’s Federal Reserve decision. Equity futures are setting up for a weaker open, yet interest rates are stable, the dollar is soft, and most major currencies are trading within ranges established earlier in the week. The Fed tried to deliver an overtly-hawkish message: An updated dot plot showed the median member of the Federal Open Market Committee thinks interest rates will climb above 5.1 percent next year – well above market levels – and seven of nineteen said they...