The Fed didn’t change interest rates — which was expected as the central bank has for some time said it was reluctant to move into negative territory. The Fed’s dot plot showed the central bank wasn’t planning to lift interest rates through 2022.
Yet the move in market was swift. Stocks DJIA, -1.03% fell after the Powell press conference, and stock futures ES00, -2.47% were sharply lower on Thursday morning.
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There is nothing it can do.......there is no 'money' in monetary policy. It's all physiological, a game with financial muppets. Reserves are nothing more than laundry tokens and 'reserves' are all the Fed has to offer.
The Fed is out of bullets, that's why.