No surprises from the Fed. Policy makers saw growth slow, but remain positive. The Fed stated that it is prepared to ease further, if necessary, but declined to engage in another round of quantitative easing.
The Fed is just about out of ammo. Businesses have few structural reasons to hire. It is no secret that many business leaders are not happy with forthcoming health care and tax policies. Could there be a bit of vigilantism going on? It is possible, but there are few reasons to hire at all. What about all the cash on corporate balance sheets? It could be used for mergers and acquisitions. M & A is usually not an engine of job growth.
I will be writing much less going forward, as I have a few other things going on, but I will be back from time to time.
Cheers!
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