The Fed just concluded its Federal Open Market Committee meeting and
released its statement.
The committee said that the economy continues to improve despite fiscal retrenchment.
It’s also worth noting that the Fed removed comments about tighter financial conditions in the economy, which was one of the key reasons why it refrained from tapering its quantitative easing program in September.
Overall, the message appears to be positive on the economy, which in turn may be seen as hawkish on monetary policy.
Markets exhibited some volatility in the wake of the announcement, even turning positive for a few moments.
But now they are decidedly lower.
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