Live from the NASDAQ market site overlooking New York City's times where this is fast money

I'm Courtney Reagan in this evening for Melissa Lee tonight's Trader lineup Tim Seymour Steve

Grasso Brian Kelly and Gaia Dombie tonight on fast a wake up call for the market

That's the message tonight from Peter Bookfar as traders digest today's bed decision will

break down all the market fallout straight ahead

Plus charged up shares of GM zooming higher as the company doubles down on its EV

ambitions with the company CEO told CNBC today that has investors plugging into the stock

And later break out the sunscreen and pour yourself a my die

We're setting sail on the cruise lines is it time to book yourself a ticket on this trade

We're hitting the high seas and that is coming up later

But we're going to start with that major shift from the Fed the central bank signaling

It's finally getting ready to raise rates again the new sending yields on U.S.

Treasuries sharply higher Elon Moys got all the details she was there and listening in today

Hi, Lon

Well Courtney as Fed Chair Jay Powell put it this was the talking about talking about tapering

Meeting that means no timeline yet for when the Fed might start reducing its asset purchases

But Powell promised it would be orderly methodical and transparent when it does happen

And he said the metric of making substantial progress in the recovery remains the same

Participants expect continued progress ahead toward that objective and assuming that is the case

It will be appropriate to consider announcing a plan for reducing our asset purchases at a future meeting

So at coming meetings the committee will continue to assess the economy's progress toward our goals

And we'll give advanced notice before announcing any decision

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