The U.S. Federal Reserve cleared the way for a relief rally in the stock market Wednesday with its Monetary Policy Statement release. Despite removing its cautionary language - namely the word "patient" - it added enough new cautionary discussion to offset any resulting negative market interpretation. The Fed pretty well spelled out relief yesterday with several strong and strange statements about its plans, but the market still has its doubts. Fed rate hikes seemed to be on the horizon before Wednesday, but it's clear now that the Fed will simply play this by ear for as long as the dollar is in play. Has the Fed gone too far and turned transparency into outright market manipulation? 5-Day SPY Chart at Seeking Alpha The chart of the SPDR S&P 500 (NYSE: [[SPY]]) illustrates the relief rally of the market Wednesday after the Fed's well-managed meeting. Still, the SPY dropped 0.4% a… Read More …
0 comments
Hide comments
