The Bank of Japan's target interest rate as of March 19 was 0.75%, in line with expectations and unchanged from the previous value.

US PLANS TO MASS PRODUCE MODIFIED IRANIAN SHAHED DRONES

- Mark Hackett, Nationwide Investment Management: Fed policy modestly restrictive; unlikely to significantly move risk assets this year amid Iran, inflation, AI, and corporate profits. - Anthony Saglimbene, Ameriprise Financial: Statement shows dovish tilt; acknowledges Middle East tensions; economic growth steady, unemployment stable; SEPs slightly dovish. - Chris Grisanti, Mai Capital Management: Fed vigilant; higher oil prices not necessarily hawkish; easing more likely if oil shock slows economy; avoid energy and defense stocks. - David Seif, Nomura: Statement and SEP less eventful; median 2026 dot unchanged; committee still aligned behind easing bias. - Art Hogan, B. Riley Wealth Management: Less hawkish than possible; inflation outlook downgraded, growth upgraded; data doesn’t yet reflect Iran conflict. - Michael Rosen, Angeles Investments: Statement in line with expectations; minor hawkish tilt; one rate cut expected this year and next. - Sam Stovall, CFRA: Fed concerned about oil-driven inflation but believes economy stable; inflation seen as temporary “speed bump.” - Daniel Siluk, Janus Henderson Investors: Hold expected; tone balanced; acknowledges Middle East risks; sole dissent from Miran; committee unified behind steady-hand approach. - Matthias Scheiber, Allspring Global Investments: Job data weakened, growth less affected; Fed likely to remain data-dependent; one cut priced for 2026. - Peter Cardillo, Spartan Capital Securities: Fed cautious on Middle East/energy impacts; rate cuts likely only in Q4 if at all; persistent high energy prices could risk stagflation. - Stephen Kolano, Integrated Partners: No rate action expected; focus shifts to commentary; uncertain impact on small caps and higher-beta stocks due to oil prices. -Lindsay Rosner, Goldman Sachs AM: Fed remains in wait-and-see mode; retains easing bias; two cuts possible in 2026 depending on conflict duration. - Karl Schamotta, Corpay: Minor statement changes; Fed following orthodoxy to look through energy shock; projections show lower growth, weaker employment, higher inflation; front-end rates stable. - Brian Jacobsen, Annex Wealth Management: SEP shows projected inflation 0.3pp higher without growth drag; 2026 could mirror past shocks with surprise cuts in September. - Gennadiy Goldberg, TD Securities: Yields slightly lower; Fed staying on hold; markets await Powell’s remarks; committee cautious on Middle East impact.