GOLDMAN: There Were Three Small Surprises In Today's Fed Announcement

Three

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Regarding the FOMC, this from Goldman:There were three small surprises in the statement. First, the committee said again that it saw “significant downside risks to the economic outlook, including strains in global financial markets”. We saw some chance that the committee would revise this phrase in light of the improvement in financial conditions. Second, Chicago Fed President Charles Evans dissented in favour of easier policy. This was the first “dovish” dissent since December 2007 (President Rosengren). Third, Presidents Fisher, Kocherlakota and Plosser chose not to dissent again at this meeting.

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