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The Federal Reserve has completed its Federal Open Market Committee meeting, and it has just published its statement.

For now, the Fed is on hold with its month purchases of $85 billion worth of bonds in its efforts to keep interest rates low.

However, one of line that was new this time around was this:

The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labour market or inflation changes. In determining the size, pace, and composition of its asset purchases, the Committee will continue to take appropriate account of the likely efficacy and costs of such purchases as well as the extent of progress toward its economic objectives.

In other words, the Fed is ready to do more if necessary.

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