Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, Wednesday, July 27.
Mandatory Credit:	Manuel Balce Ceneta/AP

Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, Wednesday, July 27.
Mandatory Credit: Manuel Balce Ceneta/AP

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The market read the Federal Reserve all wrong

After the Federal Reserve's July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish.