What was information received from fomc statement?”
The Federal Reserve released the following statement on September 23 2009. Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilising, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilise financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilisation in a cont
U.S. markets found the strength to set new highs for the current year in Wednesday trade, but this happened only after the FOMC interest rate statement hit the wires, and the move was very quickly retraced. Before that, the major U.S. indexes traded with very thin momentum, and were barely moving. This pattern could have been observed in most asset classes, except for crude oil. U.S. Trade: The entire day was marked by the FOMC interest rate decision on Wednesday. The futures and equity markets barely moved overnight, while the U.S. cash markets had a very small range ahead of the FOMC report. However, all this changed after the report hit the new wires, with S&P futures breaking above the 1070.00 area. The 1070 area had been an important swing point during the last few weeks of trading, but soon after, the entire market reversed, forcing the S&P futures to set new lows for the day. The main points of the FOMC statement were that the economic outlook has improved, something that furthe
