Stocks closed lower Wednesday, following Fed Chairman Jerome Powell's announcement of another quarter-percent rate hike.
"Inflation remains too high and the labor market continues to be very tight," he said. "The process of getting inflation back down to two percent has a long way to go and is likely to be bumpy."
But there finally may be light at the end of the tunnel.
KTRH Money Man Pat Shinn is optimistic after the Fed changed its forward looking language.
"The said 'some additional policy firming may be appropriate,' and the market is taking that that as they're going to raise rates at the May meeting," he says.
And that could finally be the end of rate hikes.
"Across the board, whether it be short-term or long-term, interest rates are coming down today, based on what the Fed has said," says Shinn.
"The big move is in bonds. Really more toward the shorter maturities, specifically the two-year rate, which typically does follow Fed policy."
The Fed set a "terminal rate" at five-point-one percent. The latest hike pushed it to an even five-percent.