No Surprises From FOMC - Statement Redline Comparison
As expected, Bernanke and his pals decided moar is betterer and keep the monetary policy foot to the floor even as they suggest things are getting better but not better enough.
- *FED SEES ECONOMY RETURNING TO MODERATE GROWTH AFTER Q4 PAUSE
- *FED CONTINUES TO SEE DOWNSIDE RISKS TO ECONOMIC OUTLOOK
- *FED MAINTAINS $85 BILLION MONTHLY PACE OF BOND BUYING
- *FED SAYS FISCAL POLICY HAS BECOME SOMEWHAT MORE RESTRICTIVE
So everything is moving forward; Politicians are still idiots but don't worry we won't stop...
Though the schizophrenia remains as they cut growth for 2013 ( 2.3%-2.8% vs 2.3%-3.0%) but lowered unemployment for 2013 (7.3%-7.5% vs 7.4%-7.7%).
Pre: 10Y 1.94%, ES 1550, Gold $1606, WTI $92.70, EUR 1.2950
The redline comparison with the January statement: