The Fed stated that rates will be kept near zero for "an extended period". They are wiling to keep rates low because there are "subdued inflation trends and stable inflation expectations".
So much for listening to the comments about the "mother of all carry trades" from Roubini. The dollar is down. Gold is up. Stocks are up and oil is up. Bonds are down on the long-end and in the front-end.
This does little to instill confidence in the Fed as an inflation fighter. While there will not be more Treasury buying, the still is plenty of credit easing that can be employed through buying mortgages and agencies.
So much for listening to the comments about the "mother of all carry trades" from Roubini. The dollar is down. Gold is up. Stocks are up and oil is up. Bonds are down on the long-end and in the front-end.
This does little to instill confidence in the Fed as an inflation fighter. While there will not be more Treasury buying, the still is plenty of credit easing that can be employed through buying mortgages and agencies.
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