The Federal Reserve's July FOMC meeting came and passed precisely as expected: without any change to its benchmark effective federal funds rate (EFFR). Chairman Jerome Powell and the other Fed governors noted their post-meeting press release that the central bank will be holding its EFFR steady in the 4.25% to 4.50% range, noting that "uncertainty about the economic outlook remains elevated." The financials sector sold off on the news despite the announcement being largely anticipated by economists and Wall ...