Wall Street's week ahead features more March Madness, but not of the NCAA basketball variety that likely kept most of Wall Street entertained all weekend. Rather, our version of March madness is being served up by the Federal Reserve.
The Fed last week relieved market tension with its dovish Monetary Policy release. The statement was clear, at least as far as I see it; the Fed is not going to do anything about interest rates until the dollar is no longer in play. That means at least until September, or until the European Central Bank (ECB) can rethink its own non-standard easing and let the euro work back toward a mean value against the greenback. I
t is madness, but it is fantastic news for stocks in my opinion, and it should continue to serve us this week...
