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Fed Cuts Asset Purchases and Drops Unique Phrase Used to Communicate with Markets

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Fed Cuts Asset Purchases and Drops Unique Phrase Used to Communicate with Markets

For months, Federal Reserve officials have repeated that they both were not “talking about talking about” narrowing asset purchases.

Source: Yahoo finance.

SPY is down 0.024%, and DXY is up 0.74%.

The asset purchase is still running at $120 billion per month.

Powel, Fed chair, yesterday confirmed that the central bank would start “talking about talking about” changing the program of narrowing asset purchase.

Powel expects the Fed will be able to say more concerning the timing of reducing asset purchase as they see more data.

The Fed chair confirmed that this week’s policy meeting should be viewed as the “talking about talking about” meeting.

Out of the Federal Reserve’s announcement, the biggest market-moving development was a change in its “dot plot,” outlining expectations for interest rates.

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