On March 20th, 2019, the Federal Reserve announced what markets had for the most part been expecting: no interest rate hikes for the remainder of 2019. Currently sitting at 2.5%, the Fed’s target for the federal funds rate impacts the global economy and influences the rates at which all debt can be issued at. A lower interest rate means that money is “cheaper”, and capital is more readily available in financial markets. While the most recent announcement was expected immediately before its release, it was very different from what many expected only a few months ago.