Decoding the Fed

Thursday, September 24, 2009, 7:06 AM
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The Federal Reserve policy statement yesterday was a masterful blend of contradictory words and ideas.

Nonetheless, the markets reacted with great volatility to these words, as though there was some useful information within them.   You can read the entire statement for yourself here at this link. 

To save you the trouble, what I've done is chopped the whole statement up into smaller sections and translated them (with tongue in cheek, but only slightly):


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