While it’s typically the marquee event for any given week (if not the whole month), yesterday’s FOMC monetary policy statement was a bit of a dud (see “FOMC Instant Reaction: “Nearly” There, but “Further” Improvement Needed” for more). The central bank made only small tweaks to its monetary policy statement, careful not to tip the scales in the increasingly important “September vs. December” debate over liftoff for interest rates. The dollar saw a bit of a recovery after the report, but all in all, traders expecting substantial volatility were disappointed yesterday. Thankfully, market participants also had today’s ... (full story)