On Jan 31, the Fed kept the benchmark lending interest rate at the existing range of 5.25-5.5% in its January FOMC meeting. However, causing a huge disappointment to market participants, the central bank clearly said that it is highly unlikely that the first interest rate cut will occur in March. Fed Chairman Jerome Powell said, “Based on the meeting today, I would tell you that I don’t think it’s likely that the committee will reach a level of confidence by the time of the March meeting to identify March a ...