I think the Fed really meant to say that they haven't got a clue what's going at this time.
What the Fed Really Meant to Say
The gap between what the Federal Reserve says about monetary policy and what investors think it's saying would be funny if it weren't so important. Most of this gap is the listeners' fault -- but not all. The Fed could do a better job of explaining itself. Last week, for instance, commentators pored over the minutes of June's meeting of the Fed's policy-making committee and decided that the Fed had, for the first time, committed itself to end its quantitative easing program in October. Moreover, some concluded, this would hasten a rise in interest rates that investors had not been expecting until next year. Here's ... (full story)