The Fed Says...Something...or Maybe Something Else

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Some quick and mixed reactions to todays Fed Statement. “The Fed eliminated a reference to a moderation in the housing market’s downturn and was vague enough on its future intentions to convince the assembled parties on trading floors and at computer desks that all was still ok, and if it wasn’t, the Fed would come in for the big rescue, or something like that,” Market Beat’s David Gaffen wrote under taunting headline “Stagflation Rules! Buy Stocks!”
“The Fed's statement was as close to sarcasm as you might ever expect to hear from that august body,” Barry Ritholz said.
"Quiet Carney. I'm trying to pretend I know John Mack's assistant," Bess Levin told us.
We’re hardly going to pretend we have some deeper insight into the meaning of today’s Fed statement than the equity markets or the bond markets. (Or that we can tell whether the various movements of stocks and bonds following the release mean equities and bonds agree or disagree on the statement.) So we’re going to ask the smartest people we know—you—in the best way we know how—a reader poll.

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