Tuesday, December 13, 2011

FOMC Statement

Interestingly, the Federal Open Market Committee's rather bland inaction in today's meeting drew a dissenter.

The FOMC kept it's policies and promises of low interest rates intact, but was a bit more optimistic than last time about the economy's prospects.

I would expect signs of renewed growth to trigger a dissent from the Gang of Three, the hardliners who oppose further stimulus of the economy.

Instead, the dissent came from Chicago Fed Pres. Charles Evans, who entered his present position under President George W. Bush a career within the Fed system.

The statement said that Evens, for a second time, voted against the policy position because he supports "additional policy accommodation at this time."

I wonder if CSPAN could persuade the Fed to let it televise the FOMC meetings? I'll bet the markets would go crazy.

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