What Did We Hear In Chairman Powell's Press Conference?

The Fed increased interest rates by 0.25% during its May FOMC meeting, a hike that was both well-telegraphed and widely anticipated. However, the FOMC statement and post-meeting press conference of Chairman Powell had enough for both bulls and bears to stay entrenched in their respective positions. A few bullet points below are what we heard and our take in the context of US equities.