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Although the Federal Reserve's "hawkish cut" on Thursday had been broadly expected, markets now fear 4% policy rates will be the floor for the coming year at least - and no further easing until midyear or later. The picture painted by the Fed removes monetary easing as tailwind from the stock market for months and has seen the dollar rocket to its highest in more than two years - bowling over emerging, developed and crypto currencies alike. Lifting their median inflation forecast for next year by 0.3 percentage point to 2.5% but only nudging the GDP growth up a tenth to 2.1%, Fed policymakers also raised their policy rate forecasts for the next two years by half a point to 3.9% and 3.4% respectively.

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Fed Chair Powell tried to make sense of contradictory storylines and conflicting data, delivering a final watchword: caution.

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The S&P 500 suffered its biggest post-Fed decision slide on record Wednesday.

NEW YORK (Reuters) -The rally in U.S. stocks is encountering a fresh hurdle -- a potentially problematic rise in Treasury yields as the Federal Reserve signals fewer interest rate cuts for 2025. The central bank's rate outlook on Wednesday included only two cuts in the coming year, rather than the four previously penciled in, catching investors off guard, and sending stocks tumbling while driving up yields and the dollar. That overshadowed the Fed's widely expected decision to reduce its benchmark rate for a third straight meeting.

Bitcoin (CRYPTO: BTC) continues to prove that it's one of the best financial assets to own. Any investor, whether the focus is on stocks or cryptocurrencies, certainly understands the concept of buying low and selling high. Bitcoin has had many declines of more than 50%.