Stocks and Gold Jump, Dollar Slumps As FOMC Expects Low Rates Through 2014


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The FOMC statement is out.Stocks turned positive.  The 10-year Treasury dipped to 1.97%.  Gold jumped around $10/oz.  And the dollar is down.

Probably because of this line:

[E]conomic conditions–including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.