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Fed Statement Launches Gold, Markets; Sinks Dollar

Tuesday, September 21, 2010, 2:28 PM
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Well, the Fed held its meeting and dutifully released a very measured statement, as expected by those who are familiar with the way the Fed adopts a 'steady as she goes' policy this close to an election.

Truthfully, I don't see anything exceptional in the Fed statement, but the markets responded quite strongly to the release.

They started with the usual 'not so hot, but not too terrible' outlook that has dominated their views for quite some time:

 

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