What the Fed Said

We certainly live in interesting times.

Today, I’m wondering if the market was worried that the Fed would announce
QE3 at the yesterday’s conclusion of the most recent FOMC meeting. I mean,
how else do we explain the 429 point ramp job the Dow Industrials put
in?

It may not have been a majority, but there were a significant number of
economists who were expecting the Fed to announce the next phase of
quantitative easing, or QE3, yesterday.

It didn’t happen…