In December/January, that excuse came in the form of tightening financial conditions, which allowed for the patient pause in place today.

The Federal Reserve Open Market Committee left their target for overnight interest rate unchanged at a range of 2.25% to 2.50%, staying true to their and Jay Powell’s “patient” mantra. One underlying theme here is that the Federal Reserve seems to be looking for an excuse—any excuse—to ease monetary policy.

Continue reading the full report (PDF)

About the author

Guy LeBas

Director, Custom Fixed Income Solutions

Read more from Guy LeBas

For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.

To learn about the professional background, business practices, and conduct of FINRA member firms or their financial professionals, visit FINRA’s BrokerCheck website: http://brokercheck.finra.org/