THE FIRST place I go after an FOMC statement is The Aleph Blog. The author, David Merkel, does an OUTSTANDING job of examining and explaining the statement. And for the March 2012 release, it is no different.
Redacted Version of the March 2012 FOMC Statement http://alephblog.com/2012/03/13/redacted-version-of-the-march-2012-fomc-statement/
The next stop will be Tim Duy’s Fed Watch blog; as I write his response is not yet posted. When it is, read it. More outstanding work. http://economistsview.typepad.com/timduy/
UPDATE – Tim Duy’s post re FOMC statement is now up: http://economistsview.typepad.com/timduy/2012/03/fomc-recap.html