FOMC Keeps “Considerable” Wealth Effect Dream Alive, More See First Hike In 2015; Two Dissent – Full Statement Comparison

Perhaps not surprisingly – following Hilsenrath’s ‘leak’ – the FOMC has decided to keep the “considerable time” language alive-and-well in its latest statement, supporting the uber-dovishness rate guidance as QE is tapered as expected:
*FED TO END QE PROGRAM AT NEXT MEETING IF OUTLOOK HOLDS, RELEASES EXIT STRATEGY GUIDELINES *FED WILL USE IOER RATE TO MOVE FED FUNDS INTO TARGET RANGE *FED TO USE OVERNIGHT-REVERSE REPO `AS NEEDED’ IN EXIT *FIRST RATE RISE SEEN IN 2015 BY 14 FED OFFICIALS VS 12 IN JUNE *FED KEEPS ‘CONSIDERABLE TIME’ PLEDGE FOR LOW RATES POST-QE *FED SEES MEDIAN FED FUNDS RATE AT 1.375% AT END OF 2015 *FED SAYS TIMING OF REINVESTMENT PHASE-OUT IS ECONOMY-DEPENDENT

This post was published at Zero Hedge on 09/17/2014.

 

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