First, happy birthday Ben…. No change. Blue-lined markup comparison of the December versus November Federal Open Market Committee statements below.

  • US Economic Expansion in spite of Global Slowing
  • Some Household Spending Advances
  • Fixed Business Spending Relatively Slow
  • Housing Remains Depressed
  • Jobs Weak but Improving
  • Global Risks Remain
  • Inflation Stable

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.

[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 cost (a non-compensated mention).