The Federal Open Market Committee statement, in which the Fed announced that it left interest rates unchanged, was a modest disappointment for stock bulls.
On rate cuts, the majority supported only one rate cut, not two, and four were in favor of no rate cuts.
It's a disappointment because so much of an additional leg up in the market is centered around this "Fed pivot," where the Fed moves from keeping rates high to cutting rates.
So investors did not get the two rate cuts they wanted.
But when compared with the main drivers of this market, it's only a modest disappointment.
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