The much-awaited US Federal Reserve's decision leaves investors more confused about the rate path. The market direction depends on one's bets, whether for the short term or the long term.
For the fifth consecutive meeting, Fed officials unanimously decided to keep the benchmark federal funds rate between 5.25% and 5.5% – its highest level since 2001.
See the chart below on Fed funds target rate ceiling 1971-2024 (%) and the period between the last rate hike and the first rate cut in a new cycle.
