Fed Lets the Market Do the Tightening, Duration-Sensitive Miners Remain Under Pressure

My TLDR on Fed: The Fed held rates steady, but I think the more important takeaway was Chairman Warsh’s continued effort to reduce forward guidance and allow market prices to play a larger role in both transmitting and informing monetary policy. Throughout the press conference, he repeatedly pointed to the significant increase in nominal and real yields since the prior meeting and emphasized that markets had alrea...

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