GLL - Why The Fed Did Not Go 'Risk On' And What To Do Now
What the Fed did and said Wednesday
Facts first, interpretation second, trading and investing thoughts last.
Here is the key part of what the Federal Open Market Committee's statement said Wednesday:
...the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes. In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as