GS: Financial markets took the Fed meeting as a large dovish surprise

Jan Hatzius, chief economist at Goldman Sachs (GS) expresses his take on Wednesday’s Fed rate hike.

Key Quotes:

“Surprisingly, financial markets took the meeting as a large dovish surprise”

Hatzius cited Goldman Sachs' proprietary financial conditions index, saying in the wake of the announcements it "eased sharply, by the equivalent of almost one full cut in the federal funds rate."

“There were certainly a few dovish surprises”