The Federal Reserve has hinted at slowing down its Quantitative Easing machinery but that might face some challenges as the stock market experienced one of its worst months in over a year. This is not to say that the Fed should respond to the stock market when it sneezes but it makes it more unlikely that the Fed will adhere to its September taper announcement.
The Federal Reserve’s two-day policy meeting concludes on Wednesday, with the Federal Open Market Committee (FOMC) scheduled to release a statement at 2 p.m. Eastern.
Stocks were soft all day but dropped further after the Fed taper. The Dow Jones Industrial Average DJIA, +0.43% closed down 189 points to 15,738. In its statement, the Fed did not mention the turmoil that has hit global financial markets in the past few weeks. Read the full statement here.
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Indeed, several Fed policymakers wanted to drive home the idea that their asset-purchase program. low inflation and high unemployment did not push for a pause to the taper, the minutes showed. A.
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Expert Take on Fed Decision to Taper Despite Turmoil The Federal Reserve said it would further pare its signature bond-buying program next month as investors continue to staged a broad retreat.
Ms. Yellen says she doesn’t believe the Fed has a role to play in supporting the stock market. That’s certainly the politically correct answer, but the reality is the Fed has cut rates in the past.
Indeed, several Fed policymakers wanted to drive home the idea that their asset-purchase programme. low inflation and high unemployment did not push for a pause to the taper, the minutes showed. A.
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Not to forget the stock market will have to deal with the Fed’s dialing back its high octane liquidity. indicating that traders were caught flat footed by the turmoil in Emerging currency markets..
But anybody watching Emerging Market FX can see that this flood of cheap money has had much more destructive effects on less liquid economies as hot money flows inflate credit bubbles and drive.