Posted To: MBS Commentary
With all the recent focus on Europe, and with no major surprises hanging in the balance for domestic monetary policy, it’s easy to forget about the Fed. After completing new asset purchases in late 2014, the Fed was effectively out of interesting arrows to fire. There was widespread interest in whether or not the Fed would remove the “considerable time” in its December statement. They ended up dropping it and keeping it at the same time, in a very weirdly-worded sort of way (here’s the detailed recap from that day ). The point is that “considerable time” is still there, but in reference to the last time they said it, effectively letting the audience think whatever they wanted to think anyway. This time, however, the Fed will essentially be forced to drop that verbiage…(read more)
Via:: MBS Day Ahead: FOMC Announcement The Only Game in Town
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