Market Alert - FOMC Decision

FOMC: Left rates as is. No surprise.

Highlights:

Growth will warrant gradual increases in FFR

Economic activity rising at a solid rate despite recent disruptions

Labor market strengthens

Inflation remains 'soft' below Fed's speed limit.

Biz investment picked up in recent quarters.

Monetary policy still accommodative.


Pretty much as you would expect from an almost 'lame duck' Fed.

SPY pretty much gave up the pre-market gains but is racing back up in response to what is a pretty much expected direction. Frankly nothing that inflation is soft, giving the Fed room to hike gradually if it wants or, it doesn't have to hike if it doesn't want.

SP500 4.83, 0.19%
NASDAQ -17.77, 09.27%
DJ30 42.23, 0.18%
SP400 -0.37%
RUTX -1.09%
SOX -0.90%

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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