The One Thing That Stood out

Everything was pretty much as expected, the one thing they did add was the target rate of 6.5% unemployment as a metric for policy adjustments so they have started to move away from date based guidance to economic based targets. This is something the market doesn't like much, but the fact they gave guidance of 6.5% unemployment takes some of the uncertainty and sting out of this movement away from date based policy and toward economic based policy such as asset purchases and F_E_D Funds target rates.