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: