If youâ€™ve ever been caught up in a case of really bad timing, then you probably know what the Fed is feeling right about now.
This morning, we received a dismal Gross Domestic Product (GDP) print that showed economic growth SLOWED to an adjusted annual rate of just 0.1% since the beginning of the year. Thatâ€™s very, very poor, especially when you consider what the Fed just announced.
As expected, the Federal Open Market Committee (FOMC) opted to continue the â€śtaperâ€ť of its current bond-buying program, announcing via the FOMC statement that it would reduce its monthly bond purchases to $45 billion from $55 billion. The decision was widely anticipated and the vote within the Fed was unanimous.
Read more about how the markets reacted to the Fed’s decision at Eagle Daily Investor.