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
The Big Picture blog: 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).