The Fed leaves rated unchanged for the second straight meeting. Powell must be very hawkish as he can’t be perceived as being soft on inflation, notes Michael Green. He discusses some takeaways from the FOMC announcement. Green highlights that using contemporary measures on rental inflation, it suggests we’re already in deflation, but the Fed doesn’t weigh this. He talks about how the ISM report today confirmed slowing while job openings are likely to reflect the reduced pace of hiring. Tune in to find out more about the stock market today.