FED Meeting: No Taper

I give it two days tops if not this very day, the Fed will roll out the bobble heads to claim tapering is right around the corner. Nearly guaranteed.

And for the record, I'm calling for an increase in QE at the December meeting.

From Zerohedge:

Fed Does Not Taper, Keeps QE At $85 Billion

Submitted by Tyler Durden on 10/30/2013 14:02 -0400

 

Just as everyone expected, the Fed (absent its Press Conference) statement confirms they are data-driven, data is not good 'enough', therefore, no-taper:

• *FED SAYS IT WILL AWAIT `MORE EVIDENCE' BEFORE QE TAPER
• *FED SAYS ECONOMY `CONTINUED TO EXPAND AT A MODERATE PACE'
• *FED SEES IMPROVEMENT IN ECONOMY EVEN WITH `FISCAL RETRENCHMENT

There were no clear comments that markets are growing a little too comfortable with the Fed's free-money. Full Redline below...
Pre-FOMC: S&P Futs 1761, VIX 13.98%, 10Y 2.48%, Gold $1353, USD 79.46
Just before the statement hit, the market broke again! Gold started to rise, USD fell (led by EUR strength), VIX was smashed lower...

• *NASDAQ HAS DECLARED SELF HELP AGAINST NASDAQ-BX

By way of interest, in the next 5 days, we will see an overload of Fed Speakers: Tracy, Bullard, Kocherlakota, Lacker, Powell, and Lacker again... It seems they have no need for a press conference.