Investors enjoyed one of the best possible outcomes from the 12/13 Fed meeting. That being a clear dovish tilt in their language pushing the S&P 500 (SPY) to new highs on the year.
As per usual, Chairman Powell played up the flexibility the Fed needs and they “could” raise rates again. But that was fairly hollow when the updated dot plot from Fed officials showed no more rate hikes on the way and 3 rate cuts in the year ahead. With that stocks pressed on the gas pedal to further accentuate the bull run that started after the 11/1 Fed meeting.
