• FOMC Statement: No Change to Policy

    5 days ago - By Calculated Risk

    Merrill on FOMC statement:
    "In terms of today's statement, there were only two small changes: 1) "household spending has continued to grow strongly" which shows that the Fed has taken notice of the strength in the consumer spending data; 2) "business fixed investment has moderated from its rapid pace earlier in the year" which is a mark-to-market given the weaker investment data in 3Q. We shouldn't be surprised by either comment as they are simply a summary of the recent data. Interestingly, there was no mention of the softer housing data." FOMC Statement:
    Information received since the...
    Read more ...