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Fed Statement: Traders Happy (Mostly)

FOMC Statement:stocks unchanged after the statement as traders are happy with (mostly) the status quo.

The one upgrade from the FOMC statement came on the economy: "economic activity is leveling out" is definitely a bit more positive than "the pace of economic contraction is slowing," which was the statement from the June 24th meeting.

  • Bonds Add to Losses After Fed Signals End to Buying

On quantitative easing, where there was some worry that they might extend the amount of buying or the time period, a little more finality: the full amount will be purchased "by the end of October."

Status quo on the other two issues:

1) Inflation: will remain subdued "for some time"

2) Interest rates: exceptionally low "for an extended period"

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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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