Fed Lays Groundwork for More Easing
While the market sold off because traders did not get further easing (QE3), it is now coming back. That's likely because traders have taken a few minutes to read the Fed statement more carefully.
The statement is bullish for those expecting QE3. They have clearly laid the groundwork for QE3 in August.
The Fed has two mandates. The first is employment growth. What they said: "growth in employment has slowed in recent months."
The second mandate is to control inflation. What they said: "Inflation has declined."
What else do you want?
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