What has changed after the FOMC decision? ...Middle East

Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but tweaked the statement to recognize "the lack of further progress toward the 2% inflation objective" and to signal the QT tapering on Treasuries from $60 billion to $25 billion beginning in June. Now, if they tweaked only the line regarding inflation, it would have been a hawkish surprise, but by signalling the QT tapering by more than expected (the expectations were around $30 billion) it turned into a dovish surprise. Moving on to the Fed Chair Powell's Press Conference, we didn't get any hawkish surprise, on the contrary, he pushed back repeatedly against a rate hike adding that they "needed to see persuasive ev

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