Dollars and Jens
Wednesday, June 30, 2004
 
Federal Reserve Open Market Committee action
The FOMC statement retains the "measured pace" language; the good bits are
Although incoming inflation data are somewhat elevated, a portion of the increase in recent months appears to have been due to transitory factors.
and
The Committee perceives the upside and downside risks to the attainment of both sustainable growth and price stability for the next few quarters are roughly equal.
The stance, more dovish than consensus, moved November futures by 10 basis points.

Oh, and they raised rates a quarter point. But that is so not the news.

- posted by dWj @ 7:28 PM
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