As expected, the US Federal Reserve raised the key interest rate by 25 basis points. Anything other than turning the interest rate screws upward would have been a major surprise. The question now is how strong the monetary policy headwind will pick up in the coming months. The range is now 3.75 to 4.00 percent.
While the Fed is not causing a sensation, it is setting the next beat in the stock market orchestra. For Kevin Warsh, it is likely to remain a difficult balancing act to sustainably combat inflation on the one hand without stalling the economic engine.
US Dollar Index 
