There was only one show in town today, and initially markets had a hard time deciding whether it was a hit or a flop. Indices vacillated between positive and negative territory, and then decided on “flop” and sold off aggressively into the close. Powell and Co clearly had a lot to digest in the past few weeks (to say the least) and today's announcement was key, not just for gauging the path of interest rates, but for shedding light on how The Fed is thinking about the biggest banking crisis sin…
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