A quick take

“The Committee judges that risks to the economic outlook are roughly balanced, but will continue to monitor global economic and financial developments and assess their implications for the economic outlook.” Worries about Global Slowdown popping up in fed statement for first time in awhile indicating FED concerned.

This Along with powell saying Fed is at lower level of Neutral rates spooked markets into thinking the fed maybe moving into restrictive territory and still predicting more rate hikes.

Lastly trend is down in Stocks and outside of an announcement of QE They were likely to continue to trade lower.

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