Yesterday the Federal Open Market Committee concluded its 2-day meeting followed by a one hour press conference with Fed Chair Janet Yellen. The markets were roiled on Janet Yellen’s remarks.
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The market had been expecting the FOMC to taper another $10B from its bond purchase program. The bond purchase program began with an $85B monthly commitment in purchasing both Treasuries and Mortgage bonds. These asset purchases have artificially prompted up the markets and kept … Continue reading