"The Fed Made A Concession To Reality" - Goldman Top Trader Frames The Chaos This Week

Goldman Sachs head of hedge fund coverage, Tony Pasquariello, attempts to frame the key sequence of this week: 

Stock operators went into the FOMC meeting with a general view that tidy adjustment cuts would persist throughout next year;

We exited the meeting with concerns that these tailwinds are fading fast.

Said another way: