First Knee Jerk

This was a DOVISH statement, so why did the market dump immediately? I think because the guidance on rates (the 6.5% unemployment) is VERY vague, as dovish as it is...

THE MARKET HATES UNCERTAINTY and even though this was dovish, it gives the market no way to have certainty as to when rates will move, they moved guidance language from a solid number to  arbitrary guidance, there were a number of measures, but none had a solid number, it was more, "We'll see as we go".

I think the guidance being so arbitrary is why they added dovish language to make up for it as they know the market would rather have specific guidance and by dovish I mean the language talking about keeping rates lower than normal for an extended period once they've reached their employment and inflation mandate, a very tricky, very ambiguous statement from Yellen, the presser may offer more color.