Apr 29
FOMC statement/Bank stress test results May 4th
The run-up in US equities and selloff of the USD in front of Wednesday’s FOMC meeting seemed to be partly fueled by speculation that the Fed would elect to increase its asset purchase program and speculation that next week's US bank stress test results will show that most major US banks have enough capital to weather future losses. The Fed reaffirmed its commitment to its current asset purchase plan and indicated that the pace of the US downturn has slowed. In its policy statement, the FOMC
