The FOMC statement explained & what now?

Wed 11Aug2010 02:11GMT

Here are two sources to help understand the the FOMC statement.

Great ‘cheat sheets’.

The Aleph Blog: Redacted Version of the August 2010 FOMC Statement
http://alephblog.com/2010/08/10/redacted-version-of-the-agugust-2010-fomc-statement/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheAlephBlog+%28The+Aleph+Blog%29

and

The Big Picture blog: Comparing FOMC Statements
http://www.ritholtz.com/blog/2010/08/comparing-fomc-statements/

—————

So, what does this all mean?

I don’t want to have to write up a huge analysis, there is plenty of that around.

But the speed with which this QELite was ushered in … well if I was a fund manager I would be paying very close attention to any chatter about further QE/easing measures and taking a leaf from Mr. Soros’ book and ‘invest now, investigate later’.

No change to my main model … still pointing to a sell-off in short term (not the end of the world, maybe 50 points or so).

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