FOMC Maintains Dovishness, Sees Neither "Stag" Nor "Flation"

Fundstrat Head of Technical Strategy Mark Newton has noted on various occasions that the Federal Reserve under Chair Jerome Powell’s leadership has sought to avoid surprising or shocking the market, typically telegraphing its intentions ahead of each meeting of the Federal Open Market Committee (FOMC). This proved to be the case once again in the weeks and months leading up to the most recent FOMC yesterday (May 1).

At the beginning of 2024, the market had hopes that rate cuts might begin ...

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