Cutting through the noise: Why today's Fed decision doesn't matter

Mid-week market update: It's always difficult to make a stock market comment on FOMC announcement day. Equity prices can exhibit strong reversals after the announcement and press conference. As well, it's also not unusual for the move to reverse itself the next day.

It's not clear whether the 2023 FOMC pattern of weakness into the meeting and a rally afterward will appear again, mainly because the market had been rallying into the July meeting, which is a different pattern than all of the other meetings this year.

I am very conflicted about the short-term direction of stock prices.

The full post can be found here.