Fed holds rates as tighter financial conditions do tightening work; 30-year yield hits 5.25%

Fed acknowledged market-driven tightening in latest decision but offered little clarity, triggering selloff. U.S. 30-year Treasury yield climbed above 5.25%, near 20-year high. Stocks and dollar dropped as yield curve steepened. Markets doing Fed's job, but uncertainty around reaction function rattles traders.

Fed holds rates as tighter financial conditions do tightening work; 30-year yield hits 5.25%

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