VGIT - The Fed Reopens Wonderland
First, it was Quantitative Easing. Then, it was Quantitative Tightening. Now, we are in Quantitative Hibernation.
The hurrier I go, the behinder I get.
- The White Rabbit
The recent minutes of the FOMC may be summarized by the following:
- Fed removes reference to further gradual rate increases.
- Fed says it plans to continue with current floor approach.
- Fed says it's prepared to adjust balance-sheet normalization.
- Fed reiterates federal funds target is primary policy tool.
- Fed says economic activity rising at solid rate, and jobs strong.
- Fed says labor market strengthened, and unemployment remained low.