What did the Fed do in the latest meeting?

The FOMC rate decision left the funds rate unchanged at 3.5%-3.75%. The Fed also lifted its SEP projections, signaling stronger growth and slower disinflation. That combination keeps the timing of any rate cuts dependent on incoming inflation and employment data, rather than a preset calendar. Markets will watch the next inflation prints closely.

Why does core PCE at 2.7% matter for markets?

Core PCE at 2.7% in the SEP implies inflation is still above target. It reduces the chance of quick rate cuts and supports the US dollar. For equities, it can cap valuation multiples until inflation cools further. Investors should focus on earnings quality and balance sheets while waiting for clearer disinflation trends.

How does the decision affect Indian investors?

A firm USD can pressure INR and imported costs, while aiding exporters’ margins. IT and pharma often benefit from a softer rupee. Metals and oil users may face headwinds. Stay balanced with quality equities, moderate-duration debt, and a small USD or gold hedge. Watch USD/INR, FII flows, and RBI commentary for near-term cues.

What are the key S&P 500 levels to track now?

Watch support near 6610-6620, where the 200-DMA sits around 6612. A move above 6715-6740 would ease pressure, with the 50-DMA near 6878 as a bigger test. Weak momentum readings, including an RSI around 35, argue for staggered entries and tight risk control.

Global Market Insights

^GSPC Today, March 19: Fed Holds; SEP Lifts GDP, Core PCE to 2.7%

ByDanny Kontos March 19, 2026

The FOMC rate decision today kept the funds rate at 3.5%-3.75% while the Fed raised its SEP projections. It now expects US GDP 2.4% and core PCE 2.7%, pointing to firm growth with sticky inflation. That mix keeps rate-cut timing in play and sets the tone for risk assets. We explain what this means for ^GSPC, the US dollar, and INR-sensitive Indian trades, with clear levels and portfolio ideas you can use now.