It was a classic situation of sell on fact as the Fed raised the Fed fund target rate by the expected 25

GBL: Carry On

Global Markets Daily by Saktiandi Supaat

FX Research

It was a classic situation of sell on fact as the Fed raised the Fed fund target rate by the expected 25bps. Economic projections for the year were hardly changed with the exception of core PCE inflation revised a little higher to 1.9% from 1.8%. Even so, there is no fear of overheating at this point as the Fed expects “inflation… stabilize around 2 percent over the medium term”. With the committee still expecting only “gradual increases in the federal funds rate and that the federal...