Courtesy of Mish
The Fed did not hike, as expected. The Fed also shed no clues as to when it will hike. Instead, the Fed offered a statement it has been making for five years or so: The Fed expects inflation to rise to 2% ‘over the medium term’.
Medium Term
Inquiring minds may be interested in a google search for the words “Fed medium term.”
There are dozens of pages on the “medium term.” Since results are date-sensitive, the recent pages consist of links that are mostly from the “near term” but I did locate a reference from 2012.
FOMC Statement
Those who wish to be bored to tears can read the today’s complete FOMC Statement. Rest assured it said nothing.
Soliciting “Medium Term” Opinions
@StockCats I need an opinion from your cats quick! How do they feel about the "medium term"?
— Mike Mish Shedlock (@MishGEA) February 1, 2017
@brianlantier @MishGEA honestly sometimes I think the Fed might just be "winging it"
— StockCats (@StockCats) February 1, 2017
Fed is Clueless
The Wall Street Journal reports Fed Leaves Policy Rate Unchanged, Offers No Hint on When It Might Next Move
