The David Lin Report · Thursday, July 30, 2026
The Federal Reserve decided to maintain its target range for the federal funds rate at 3.5% to 3.75%. This decision, coupled with the Fed Chair's comments during the press conference, led to a significant sell-off in equity markets, with the Dow dropping 1000 points, and a steepening of the yield curve.
“Today, as you know, our committee decided to vote by 9 to 3 vote to maintain the target range for the federal funds rate at three and a half to three and a quarter percent.”
“The reaction, David, if if it had all stopped at 2 PM Eastern time, meaning that we just got the FOMC decision and nothing further happened, I don't think you will be seeing the carnage that you saw since.”
“What happened then was the beginning of the wash press conference at 2:30 PM Eastern time and ending about 45 minutes later.”