Stocks, Dollar, & Bonds Drop After Fed Statement

We wanted “moar”…

A lack of forward guidance (perhaps) has sparked selling almost everything (albeit modest)…

Stocks down…

Dollar down…

And bond prices down (yields up)

Neil Dutta, head of economics at Renaissance Macro Research in New York, criticizes the Fed’s existing forward guidance, calling it confusing:

“The economy will weather recent events much sooner than it will be on track to achieve the Fed’s dual mandate goals. In the meetings ahead, the Fed should make it more obvious that it is keeping rates at zero long after the crisis has been put behind us.”