Macro Notes
FOMC gives a bit morePeter Boockvar
As "the committee now expects a somewhat slower pace of recovery over coming quarters than it did at the time of the previous meeting and anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate" and they expect that "inflation will settle at levels at or below" their dual mandate, the FOMC is saying they will keep rates at "exceptionally low levels" through mid 2013. This specific time frame is what defines this statement. They also concluded by saying they "will continue to assess the economy outlook in...
read more ?Source: http://www.ritholtz.com/blog/2011/08/stock-market-volatility-bank-of-america-investing/
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