Blue-lined markup comparison of the April versus March Federal Open Market Committee/ FOMC statements below:

  • Labor & Spending Improving/ Housing Depressed
  • Inflation Increased
  • Continued Accommodative Stance
  • Low Rates Expected to Late 2014
  • No Specific Mention of “QE3?
  • Global Strains Remain
  • Single Hawkish Dissent

Don’t forget the first reaction is often a fade, but price can move quickly. Also see past Fed-Day reactions on this site, and prior statement markups here.

[Double Click Graphic Below to Enlarge]


Did today’s trade pattern surprise you? If it did, may I recommend Rob Hanna of Quantifiable Edges new e-book, “The Quantifiable Edges Guide to Fed Days”. It’s a tremendous compendium of over thirty years of Fed-day patterns and odds, and is well worth the small investment.