Wednesday, September 23, 2009

Nothing New From the FOMC Meeting

What do these guys do for two straight days. Reading the statement, which was released at 2:15pm EST, is like reading the 'Money & Investing' section of the Wall Street Journal. No surprises! Yes, we know the economy is gaining some traction; yes, we know housing is starting to come around; and, double-yes on this one that we know all about the financial markets moving higher. Of course, I'm not exactly sure what I'm looking for them to say except maybe how the central bank will work with Geithner & Co. to develop some new small business incentives--a move that will certainly help improve the jobs picture.

But, what do we know. Oh yeah, and the FOMC made no move on rates (again, no surprise), but did say they will buy $1.25 trillion of mortgage-backed securities. They said this in August, so again......

Talk to you,

Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.

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