UBS On-Air: Paul Donovan Daily Audio 'Not the Fed’s finest hour'

The Federal Reserve did not change interest rates (it was not a skip, according to Fed Chair Powell). The press conference presumably did intend to sound hawkish, and presumably did not intend to sound economically incoherent. The fabled “dot plots” signaled two rate hikes—given how these are prepared, they are unlikely to be a coordinated Fed message.