The Federal Open Markets Committee is meeting today and will announce at 2:15 PM ET whether they will be adjusting interest rates.
There will be no interest rate adjustment, but it’s possible new action may be taken on the quantitative easing front. The most likely change, though, will be in the language.
Right now, the U.S. economy is experiencing a scenario of deleveraging, high unemployment, and high corporate profits.
The Fed is thus at an incredibly difficult juncture, due to a combination of macro headwinds, some signs of life, and a dwindling number of bullets.