The market surged in the seconds after the Fed meeting, but perhaps the response should have been more measured.
While the Federal Reserve raised interest rates as expected and sounded a dovish tone on its statement, it raised its GDP forecasts for 2018 and 2019. And in the process, it lowered its estimates for the unemployment rate.
Not too sure about you, but that signals inflationary pressures that may spook investors because it will force the Fed to act more aggressively on rates. A mouthful right there, but a strong possibility. Just look at what TheStreet is hearing from food makers such as Tyson Foods (TSN) , Procter & Gamble (PG) and General Mills (GIS) on the inflation front.
Watch below for a quick take.