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Opinion
John Authers

Markets Have Misread the Fed

Investors should have known that the central bank sees no pressing need to cut rates to spark faster inflation. Also, meet the “Fang 6.”

The markets overreacted to the latest Fed decision.

The markets overreacted to the latest Fed decision.

Photographer: Brendan Smialowski/AFP

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Reverse engineering is always tempting. There is an event, the market responds, and then conclusions are drawn based on the premise that the market was right. “Of course traders did that, it was because of x.