Wednesday, September 23, 2009

FOMC statement - no surprise

AlphaNinja - In response to our debt-fueled national buying binge of the last decade, the FOMC will.....keep rates "exceptionally low," to fuel a further debt fueled national buying binge.

"The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. "

The Dow is spiking up on the news, up maybe 60points since the announcement, as free money is good for profits.

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