F_E_D Analysis

I'm trying to watch the market , think about what was said and refer to notes and put some of this together.

This isn't a very volatile initial move, it is a bit negative, but the TICK Index isn't all that negative, it's around -750 which is the low end of the median, no where near extreme.

I didn't hear much in the way of policy adjustments, what I did notice was a decidedly less hawkish tone than the last F_O_M_C minutes, it seems they tried to tame that down.

It also seems there's more of a shift toward employment as the metric for QE, the yard stick that was troublesome for the market was somewhat appeased in their language about purchases going on as until unemployment drops below 6.5%. I think the "In the context of price stability" is still a little sticking point as we all have seen how inflationary QE can be.

All in all it seemed like a little moderation of the minutes from the last meeting which came off as the F_E_D was wavering on the value or benefits of QE, here they seemed to leave that debate behind, but until we see the minutes, we won't know for sure.