The week in financial markets: Sorting noise from substance

The dominant shows in progress involve the stock market, the tariff announcement and the possibility of trade war, and a tough week for technology

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The Fed met this week, concluding with Chair Powell’s first press conference and new projections for the cost of money. In any other month or year or decade the Fed news would have dominated all else. This time, just an “uh-huh” from markets and back to the other jaw-dropping shows in progress.