Highlights of the October 29, 2014 Federal Reserve FOMC statement
- Underutilization of labor resources gradually diminishing
- Sees ‘solid job gains’ with lower employment
- Highlight accommodative policy to be appropriate for ‘considerable time’ following end of QE
- Repeats that measures of inflation have declined somewhat, says longer term inflation expectations stable
- Risks to jobs market and economy ‘nearly balanced’
- Fed funds held at 0-0.25%, where they’ve been since Dec 2008
- Kocherlakota dissents, prefers continued QE
Reminder: There are is no press conference and there will be no forecasts along with today’s meeting.
Massive 80-90 pip move higher in the US dollar right across the board on the headlines.
Here was the USD/JPY move in real-time:
More:
Goldman Sachs (and others) react to the FOMC decision
EURUSD fall after the FOMC calls jobs gains “solid” with outlook showing “substantial improvement”
