Earlier today we said that it was inevitable that the Fed would join the world's other central bankers in providing backstops to global markets, the only question is whether it would take place before or after the open. We now have the answer. Before.
The Federal Reserve is carefully monitoring developments in global financial markets, in cooperation with other central banks, following the results of the U.K. referendum on membership in the European Union. The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary, to address pressures in global funding markets, which could have adverse implications for the U.S. economy.
Because free, impartial, efficient, and unmanipulated markets. Also we can finally stop holding our breath on those two Fed rate hikes which the FOMC anticipates in 2016.