The S&P 500 put in a mixed performance this week: hitting a new all-time high Wednesday after the Fed’s FOMC statement but then selling off over the latter half of the week, ending the week down 0.8%. Long-term Treasury yields continued to rise, hitting their highest yields in a year, now surpassing pre-pandemic levels. This week, we also got retail spending numbers for February, and updated economic projections and a statement on monetary policy from the Fed, in addition to the weekly update on the labor market and national mortgage rates. On the political front, we now know the Biden administration’s next priority: infrastructure spending and higher taxes. Read on for more of the market weekly update, and you can find all the previous Monday Market Update’s here. You can now also get the weekly headline highlights on Finance Explained, my new podcast.