One surprise from the FOMC statement is that the Federal Reserve did not directly acknowledge the slower economic growth that was evident in March and is already evident in April.
But on closer inspection, the Fed did include an extra sentence that does indirectly address this issue: "The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation...."
The Fed may INCREASE OR DECREASE its purchases. It's an obvious but important point...that the Fed is now doing real-time adjustments to its policies. It can ramp up, or ramp down.