With recent market activity, a boring press conference was not expected but it was delivered. We believe Chair Powell clearly wanted to make the latest hike benign against backdrop of the banking crisis. However, the implications for the markets and the path of rates are varied and vast.
Watch Chief Economist and one-time Fed staffer Vincent Reinhart, Dreyfus Chief Investment Officer John Tobin and Mellon Senior Investment Strategist Ted Bair to review the March Federal Open Market Committee meeting, which includes an updated Summary of Economic Projections.
Please view the transcript under the attachments tab for important disclosures.