One additional note

As is always the case before these policy statements, there is a large group of investors looking for QE3, this time was no different. What may actually be important in this statement is that there wasn't even a hint of QE3 which once the market digest, may find quite unpalatable as the F_E_D is first likely to hint at it in a meeting before actually announcing it, meaning we could be at least 2 policy statements from any potential of QE3, something I feel is unlikely before the elections in any case, with the caveat of an economic crash which would give them political cover.