Mike Ryan Fed Quotations

Simply because the Fed is maintaining an accommodative monetary policy position doesn't mean they keep the fed funds rate at one percent indefinitely,

If the Fed is not going to do the heavy lifting, the bond market is going to do it for them.

I think what the Fed really did today is they kept the door open for further cuts.

Expectations are that the Fed is going to do nothing and refrain from raising rates and maintain an inflation risk bias,

The equity market is clearly more vulnerable to the Fed not taking any action.