Biggest news making headlines this morning is the Federal Reserve approving its 10th interest rate increase in just a little over a year. What were some key takeaways coming out of the FOMC meeting? Why did shares of PacWest Bancorp tumble 56% overnight? And why are strategists from JPMorgan and Morgan Stanley preferring fixed-income instruments to equities today? Dan Koh and Ryan Huang dissect the details.

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