Fed Flop

From vantagefx.com

With this morning’s scheduled Federal Reserve announcement amounting to absolutely nothing, we continue to creep forward along the winding path leading to an expected December hike. We did however get some unexpected headlines from the Fed, with Janet Yellen responding to a letter titled ‘An Open Letter To Chairwoman Yellen From the Savers of America‘. Yellen’s response explained that most Fed policymakers expect the pace of rate hikes to be gradual and that any early, aggressive interest rate moves would only have a short term benefit to savers as lack of demand could quickly have the Fed back at low rates ... (full story)