Seeking to build up the home of the brave can’t be an easy job. The two day Federal Open Market Committee meeting concludes today at about noon our time. The markets eagerly await the prepared statement by Fed Governors as well as the press conference following with the Chair Janet Yellen. Pundits will be listening for any changes to the historical use of the phrase “considerable time” with regards to the duration that the FOMC intends to keep their rate at zero. Some today decry the notion that the economy is ready to sustain any semblance of growth should rates increase and are calling for another year (making seven in total) of free money.
I am not so bold nor pessimistic and feel that we’ve just another six months or so at current levels.