Financial conditions matter more to us than they do the Fed right now, notes Mark Dow. He recaps the Fed announcement and Powell’s speech as Powell says that the FOMC doesn’t want to take further hikes off the table. Dow highlights that whether the Fed cuts 50 or 100 BPS that won’t change the inflation path. He talks about how a soft landing will vindicate the view that rates aren’t as powerful for the real economy as traditionally thought. Tune in to find out more about the stock market today.