Recapping the day's news and newsmakers through the lens of CNBC.
The 'incredibly wimpy' banker to the world
And the great taper is ... well, coming ... sometime later. The Federal Open Market Committee concluded at the end of today's meeting that the economy is just not strong enough to justify reducing the Fed's $85 billion bond-buying program. Bond yields fell and stocks and commodities—gold in particular—jumped, with the Dow and S&P 500 hitting record highs.
"The Committee remains concerned that, without sufficient policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions."
"This is incredibly wimpy."
—David Kelly, chief market strategist at Morgan Stanley