The Federal Open Market Committee announcement and Powell’s presser were Wednesday US time.

• No signal of a policy shift from the Committee. No one expcted any, so no surprise here. in policy today.
• FOMC cut to interest on excess reserves IOER (by 0.05%) – this a technical adjustment to keep fed funds rate within the target range
• There was an acknowledgement of weaker inflation in the statement … Chair Powell followed up in news conference saying weak inflation pressures  may be cause by transitory factors