Those expecting a “dovish” skip at the Fed meeting may have been surprised by an increase in the expected terminal rate presented in the dot plot yesterday: The FOMC took the terminal rate projections up to 5.6% from 5.1% – implying two more hikes. Nick Timiraos (WSJ “Fed Whisperer”) called their bluff in the press … Continue reading “When Doves Cry” Stock Market (and Sentiment Results)…