Market Reacts To FOMC Rate Decision

Once again Jerome Powell tried to thread the needle in his comments around the recent Fed rate hike. He cited the need to be data dependent and acknowledged the potential impacts the mini banking crisis may have on the credit markets. But at the same time, Treasury Secretary Janet Yellen spooked the markets after making comments around not considering a “blanket” insurance program to guarantee all bank deposits. The team discusses the market reaction and highlights the potential risk in the market moving forward.