“Data Dependent” vs. “Calendar Based” Timing for The Federal Reserve
Liz Ann Sonders from Charles Schwab & Co., Inc. shares key takeaways from the Fed meeting this week:
Key Points
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The Fed kept its statement largely intact relative to July’s; opting to retain the much-ballyhooed “considerable time” phrase.
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It was confirmed that QE’s tapering would be concluded by the end of October; while the Fed’s rate expectations were increased.
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Yellen took great pains to explain that “considerable time” should not be considered calendar-based guidance.
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