The announcement is out:
There is no change to any easing plans.
The recovery is fading somewhat.
Rates will be kept low for a long time.
Inflation is expected to subside to a level below its mandate.
The market is registering very little change on the news.
Stocks are still basically flat.
Bottom line: Things aren’t great, but don’t look for more easing just yet. And certainly no tightening.
You can download the full statement here.
Original post: Here. We. Go.
The first half of today’s Bernankepalooza starts with the Fed’s announcement regarding interest rates.
In terms of policy changes, don’t expect any change to anything.
Obviously, people will be looking for commentary about inflation, the economy, etc.
The FOMC announcement is scheduled for 12:30 PM ET.
What will be even more exciting is the press conference at 2:15 ET, which we’ll also be covering Live.
Markets are basically hugging the flat line, with the Dow slightly negative, and the NASDAQ slightly positive.
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