Jul 26
US: FOMC - No change in rates
No change in rates, no change in economic outlook, no additional quantitative easing and no liquidity exit from the Fed. Four negatives in the the FOMC statement but only one seemed to register with the currency market, no additional quantitative easing. Treasury rates moved modestly higher and the dollar rallied. The FOMC "expects that inflation will remain subdued for some time", and "that economic conditions are likely to warrant exceptionally low levels of federal funds for an extended
