The Fed left rates unchanged....#yawn
With the June meeting now behind us, everyone was focused on Fed chair Janet Yellen's press conference. But, guess what? She didn't really say much apart from noting that the central bank really took the upcoming UK referendum into consideration when maknig their policy decision. "It is fair to say it was one of the factors that factored into today’s decision,” she said Wednesday afternoon. “Clearly, this is a very important decision for the UK and Europe…it could have consequences in turn for the U.S. economic outlook.”
Gold rallied post-FOMC and managed to settle around $1,288 an ounce. Meanwhile, stocks indexes moved higher while the U.S. dollar lagged.
So, my question is...now what?
Image credit: Bloomberg, Hedgeye
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