Finally it's not a matter of if, but when and that makes a lot of difference for a market that was not even pricing in if. As you can see from the statement, only very minor changes were made with the key change being "inflation running persistently below" to "inflation having run persistantly below". Even the Fed don't want to seem like idiots and the time for ignoring inflation is now past us and a Fed that's fighting inflation is generally fighting fun – it is time for Daddy to take your TBills away…..
Ah, remember the 60s, when "now" used to rhyme with "now" – life was so simple then (or maybe we were idiots?). I think that's called the Canadian/Japanese Rhyme Scheme (just say whatever and end each sentence in "Eh" or "Neh")?