Here’s the real reason stocks rose after a do-nothing meeting, says this ex-New York Fed trader - MarketWatch

1. Fed Chair Powell's message was neutral amid soft and hard data uncertainty. 2. Tapering of quantitative tightening impacted stock market reactions significantly. 3. Concerns over debt ceiling may lead to liquidity issues for banks. 4. Low jobless claims suggest fewer layoffs, but consumer surveys remain downbeat. 5. The impact of tariffs and potential rate cuts from Trump remains uncertain.