Fed Statement Recap

The Fed statement was not too tough, saying "economic growth has moderated" and "inflation pressures seem likely to moderate over time." FOMC said inflation risks remain and "extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook." The Fed did not use word
'pause' but noted reasons for no hike--gradual cooling of housing,
energy, lags in prior hikes taking effect. The vote saw Mr Lacker dissent, wanting +25. He was the Committee member who was HAWKISH.
Market was Puzzled Tuesday, With SPIKES All over the board.

We shall see how European and NY market reacts today, which shall lead for further Directions.