Rorschach Rates

rorschackUnsurprisingly, earlier today the Fed kept interest rates unchanged. In the press release following the meeting, the Fed found yet another way to say absolutely nothing about their future intentions, allowing the release to become a Rorschach test for market participants. In this way, the possibility of a rate hike in December remains alive and forces markets to price in the possibility of a December rate hikeĀ if conditions warrant.

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