FOMC Summary Nov 23

Federal Reserve Chair Jerome Powell's recent statements and actions:

- 💼 Federal Reserve suggests it may be done with interest-rate hikes after holding rates steady for the second consecutive policy meeting.

- 📈 Powell's dovish pivot boosts markets, with the S&P 500 index closing more than 1% higher.

- 💹 The 10-year US Treasury yield drops below 4.75% for the first time in two weeks.

- 📅 Future rate hike expectations decrease, with a one-in-four chance of another rate hike by January.

- 🌍 The Fed remains cautious, citing the need to assess economic conditions and geopolitical risks.

- 📊 Powell distances himself from the "dot plot" of quarterly interest-rate projections, emphasizing it's not a set plan.

- 📉 Inflation and economic growth remain above target, keeping the option for future rate hikes open.