Seriously, this is just plain nonsense.
Print money out of thin air, issue it as debt, give some to the nation's biggest banks and return 1/2% to them on Billions of dollar in excess reserves, constipate the entire lending transmission function, make minute, detailed changes to your statement every month or so, trot out your Chairwoman - who looks like your grandmother - every three months, keep the federal funds rate at ZERO and continuing raping the wealth and resources of your country, forcing everybody into stocks (mostly), bonds and commodities.
It's absolutely brilliant. The banks don't have to pay interest on savings (whatever that old, quaint concept happens to be), and everybody except the general population goes home happy.
The Fed won't raise the federal funds rate for at least six more months, and probably not until 2017. Seriously. It's broken. Grag some gold, guns and land and head for the hills, unless you are a welfare (FSA) mooch, then, live in a city slum, or a suburban slum, which are popping up all over the country.
What a monstrously sad joke is being played on the American public. Too bad it's not funny.
Whether you're old or young, you're getting taken to the cleaners and it's not about to change any time soon.
The Dow Jones Industrials were off by more than 130 points just prior to the FOMC statement at 2:00 pm EDT. It closed up 227.
WTI Crude oil - of which there is an historic oversupply - was under $42/barrel in the morning. By the end of the trading session it was approaching $47/barrel. Supply and demand, my BEHIND.
Dow 18,076.19, +227.11 (1.27%)
S&P 500 2,099.42, +25.14 (1.21%)
NASDAQ 4,982.83, +45.39 (0.92%)