The Fed's Warning Was Louder This Time

Summary

• The FOMC's March statement came with a hold on rates, keeping the central rate at 4.25-4.5%.
• The statement introduced a new warning to investors, and language that indicates the Fed is seeing more risk in the current macro environment.
• There are several reasons for the Fed to hold rates, and even more for the Fed to keep rates steady through most of this year.
• Despite this, the market is still pricing in two rate cuts. I believe the Fed is trying to temper the market for fewer or none.

Kevin Dietsch/Getty Images News

Introduction

The last time the Federal Reserve Open Market Committee ("FOMC") met, back in January, they released a statement that I said was tempering folks for increased inflation, and a slowing of the proposed and expected rate

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