The Wall Street Journal have an article up with a quick summary of the Federal Reserve decision today, in a ‘5 takeaways’ format. I love the 5 takeaways, each time I see it it reminds me of this
But, I digress …
Here’s the Journal’s points (dot points???):
- Fed steeply cut its estimates for U.S. economic growth this year
- An expansion that, despite heavy Fed support, remains … anemic
- Yellen doesn’t see any broad financial stability threats to derail the Fed from keeping rates near zero
- The ‘taper’ is still data-dependent (inserts sarcastic ‘Yeah, right”)
- The steep reduction in this year’s growth projections were accompanied by a policy statement that appeared remarkably optimistic… this is a disconnect