“Steady as she goes” was expected… having kept the “considerable time” dream alive last month, the FOMC ended QE3 on schedule but remained ‘data-dependent’ on reviving it…
- *FED ENDS THIRD ROUND OF QUANTITATIVE EASING AS PLANNED
- *FED SEES `SOLID JOB GAINS’ WITH LOWER UNEMPLOYMENT
- *FED REPEATS RATES TO STAY LOW FOR `CONSIDERABLE TIME’
And so now the “flow” has stopped; given that “bond buying” did not work, we are reminded of Alan Greenspan’s warning that “I don’t think it’s possible” for the Fed to end its easy-money policies in a trouble-free manner. Full redline below
Pre-FOMC: S&P Futs 1975, 10Y 2.32%, Gold $1225, WTI $82.75
“Do you see what happens, Janet” http://pic.twitter.com/NJsuZayc2B
— Not Jim Cramer (@Not_Jim_Cramer) October 17, 2014
What next? Is it the ‘stock’ or the ‘flow’?
A reminder of what happened at the last FOMC…
Full Redline…
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/FF6zu-2kMZQ/story01.htm Tyler Durden