After a two day meeting you can wonder why it took 48 hours to…do nothing!
From the Statement:
The Federal Reserve on Wednesday said it would stop its long-running bond purchase program at the end of October, ending a historic experiment that has stirred intense debate about its effects in markets even though the central bank said it accomplished(!) its main goal of reducing unemployment.
At the same time, the Fed upgraded its assessment of the job market’s performance while pointing to some short-term downside risks on inflation. It stuck to an assurance that short-term interest rates will remain near zero for a “considerable time.”
Let´s see what Quarter 3 GDP (both R & N) looks like tomorrow.