Fed has no bullets

"The Committee currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013."

The comments by the Fed suggested that there is no silver bullet policy to get the economy back on track. The comment also suggests that there will not be any positive news about the economy until 2013. They are expecting to hold the low rates for another 2 years. Additionally, there were three members who voted against the policy statement. There is no consensus at the Fed so there will be little extra help for equity or commodity markets.