– FOMC Ends The QE Dream, Keeps “Considerable” Period Hopes Alive – Full Statement Redline (ZeroHedge, Oct 29, 2014):
“Steady as she goes” was expected… having kept the “considerable time” dream alive last month, the FOMC ended QE3 on schedule but remained ‘data-dependent’ on reviving it… (even as Kocherlakota dissented)
- *FED ENDS THIRD ROUND OF QUANTITATIVE EASING AS PLANNED
- *FED SEES `SOLID JOB GAINS’ WITH LOWER UNEMPLOYMENT
- *FED REPEATS RATES TO STAY LOW FOR `CONSIDERABLE TIME’
And so now the “flow” has stopped; given that “bond buying” did not work, we are reminded of Alan Greenspan’s warning that “I don’t think it’s possible” for the Fed to end its easy-money policies in a trouble-free manner. Full redline below.