Fed holds rates as tighter financial conditions do tightening work; 30-year yield hits 5.25%

Fed acknowledged market-driven tightening in latest decision but offered little clarity, triggering selloff. U.S. 30-year Treasury yield climbed above 5.25%, near 20-year high. Stocks and dollar dropped as yield curve steepened. Markets doing Fed's job, but uncertainty around reaction function rattles traders.