Wednesday saw the FOMC raise rates as expected and a removal of the word accommodative from the statement, which initially sent stocks and Treasury Yields higher, but then reversed course and ended the day lower. Chairman Powell indicated in his remakes that the dropping of “accommodative” does not signal a change in future policy, and expectations are still for one more rate hike in 2018 (December). On Thursday, four pieces of economic data are due out, although investors will likely maintain focus on interest rates and China.
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