With rate hike odds tumbling post-J-Hole thanks to Brainard (but up to 24% today), macro data deteriorating, European banks tumbling, and China money markets turmoiling, expectations were low for a 'surprise' rate hike today. And sure enough, they didn't...
- *FED: DECIDED TO WAIT ‘FOR THE TIME BEING’ FOR MORE EVIDENCE
- *FED SAYS GEORGE, MESTER, ROSENGREN DISSENTED IN FAVOR OF HIKE (most dissents sine Sept 2014)
No addition of "Risks are balanced" language and cuts the long-run growth rate for the US economy below 2% for the first time ever.