It’s Fed day. Their monetary policy statement will be read in two hour’s time. It will be interesting to see if they address the GDP report released this morning at 0.1%, well below the 1.0% expected and WAY down from the 2.6% seen Q4 of 2013. GDP is, in my opinion, the biggest measure of economic activity in any country. The Fed has a target growth rate for GDP at 2-2.5% per year so this one really stinks. Will they continue to taper their bond purchases by another $10B going forward? We’ll know in a couple of hours and see how the markets react.
