Stocks Up After Fed Releases Minutes

The Federal Reserve Board, which sets US national monetary policy, released minutes from its latest meeting today, striking a tone of temperate growth.

Board members saw moderate improvement in the economy and said there are no plans to modify the Fed’s big bond-buying program aka “quantitative easing.” The group is less worried about falling prices and sees them gradually rising, though they expect inflation to remain below their target of 2%.

Participants noted that with the glut of supply there is still the possibility of further deterioration in the housing market. And while businesses are more optimistic about the economic outlook, hiring is going to remain cautious for the near-term. Sorry.

A market rally took a breather down in anticipation of the minutes, but stocks edged higher after seeing there was nothing unexpected in what the Fed had to say.

You can read all the minutes here.

Minutes of the Federal Open Market Committee December 14, 2010 [Federalreserve.gov]

Comments

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  1. RandomHookup says:

    Dang, the Fed controls time? They are more powerful than I thought.

  2. Working for the man, he pays well. says:

    As of now…
    Dow Jones 11,677.90 +7.15 (0.06%)

    Well, I guess .06% is UP.

    • Necoras says:

      Stocks were down half way through the day, now they’re closer to even. It’s up from where it was.

  3. ALP5050 says:

    Destroy the fed!

  4. galm666 says:

    Moderate improvement is always good. Sudden, drastic improvement is actually a really, really bad thing.

    • Consumeristing says:

      We could use “sudden” instead of having the smallest post-recession we’ve ever had. I want me some inflation!

  5. RandomHookup says:

    You can read all the minutes here.

    No, thanks. I’m already having problems staying awake.

  6. Big Mama Pain says:

    Glenn Beck says it’s time to start hoarding gold bars under your mattress!!

    • Cosmo_Kramer says:

      No no, you’re supposed to hoard Willy Wonka candy BARS and hope you get a gold TICKET.

    • Bsamm09 says:

      I prefer silver. (Well I did)

    • Zowzers says:

      Gold? Bah. Hardly any use in a post apocalyptic world. Best to stick to hoarding ammo, food & water.

    • nocturnaljames says:

      it’s sad when Beck offers more sanity than the head of the Federal Reserve. The only index up is the Dow, at .18%, hardly anything to cheer about. The economy is precarious as ever despite what the Fed would like you to believe.

  7. Why is this on Consumerist? says:

    Bernake? Seriously?

    • SideshowCrono says:

      Yeah I saw that too and I was really surprised.

      Besides that, its a pretty cool graphic. Someone needs a facepalm though.