Quick roundup
Tom di Galoma at ED&F Man
This is a remarkedly dovish statement in my view with the absence of any tapering language, however the bond market still has to contend with Friday’s Jobs report
Solaris
There is absolutely no change here
Vining Sparks
This is a substantive acknowledgement of a risk to disinflation. Inflation is well below the Fed’s target and could be detrimental to the economy. This could change when and how quickly the Fed would reduce its bond purchases. It’s not a game-changer. They are trying to talk yields down. We should see this supportive for bonds and stocks.
CIBC
Fed wanted to delay any real decisions until more data were in, and opted to deliver a nearly identical statement to its prior one.
Rockwell
The Fed didn’t want to say anything that would roil the market.
Worldwidemarkets
The end of the program was never going to be a cut and dried announcement in the official policy statement but in the various pronouncements of Chairman Bernanke. When quantitative easing ends, it will be a Bernanke quote that writes the epitaph.
The best comment I saw was
FOMsee ya in September
The most important reaction may have been the bond market, yields down are substantially and have wiped out the post-ADP gains.
10 year yields intraday
