Wall Street loves the Fed and Janet Yellen

Fed to start to modestly reducing its bond holdings

Dollar hits 2-mth high vs yen on heightened Fed hike expectations

Under the plan the Fed announced, it will start to allow a slight $10 billion in holdings to roll off the balance sheet each month - $6 billion in Treasurys and $4 billion in mortgage bonds.

An analyst noted that the prices are moving away because the market perceived the meeting's agenda and tone to be somewhat hawkish in terms of the forecasts and outlook for the interest hike.

The Federal Reserve also signaled an increase in the December rates as it starts on a never before unwinding of the purchases that it made during the crisis era.

The question of when and how the Fed will manipulate its main policy lever - its target for short-term rates - in coming months is less clear.

Looking to other central banks, Interactive Investor head of equity strategy Lee Wild says the ECB has been careful to keep at least one step behind USA policymakers for fear of over-inflating the euro.

Several countries urge Myanmar to end violence against Rohingyas
Even so, the worldwide community has roundly praised the country for its generosity and willingness to help the Rohingya. The UN has called for unhindered access to Rakhine state, which has been mostly closed to media and humanitarian groups.

Despite almost seven years of uninterrupted job creation and a very low unemployment rate of 4.3 per cent, inflationary pressures and wage gains have been tepid at best, something that has baffled economists. For comparison, the economy grew at only a 1.2 percent rate in the first quarter of the year.

ALAN BLINDER: Ben Bernanke and company then were literally at a crossroads.

YDSTIE: The Fed chair and his colleagues didn't give up.

"Other countries went into quantitative easing and they are still stuck", Matus added.

"The risk for the FOMC (Federal Open Market Committee) in the balance sheet is in how it moves credit - particularly the Mortgage Backed Security market". The aim was to revive the housing sector.

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The Taliban claimed the attack was in revenge for a U.S. leaflet deemed highly offensive to Muslims. The match was stopped for short time but resumed once the security heads told us we can carry on.

Yellen also shared that the Fed expects that the overall USA economy will continue to expand at a moderate pace over the next few years. Given this, a moderate reduction of the balance sheet will only have limited market impact. If they do, "it would require an adjustment of monetary policy", Yellen said.

JANET YELLEN: Stimulating a faster recovery than we otherwise would've had. Yellen said today the Fed's decision to wind down the program is a vote of confidence in the USA economy. In fact, 87.88 percent of Investing News Network readers who voted in a recent poll said the Fed would not increase rates this week.

Mould said: "If QE boosted asset valuations then it seems logical to assume its withdrawal may have the opposite effect - unless the USA economy and corporate earnings again take up the slack very quickly".

The reaction in the bond markets, however, was not uniform.

BLINDER: If you're buying a vehicle and you finance it with an auto loan, you'll pay a little more.

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With a large amount of blue expected to be in attendance, Fitzgerald's role will be key in igniting the Red Sea their home opener. There were likely a few running backs that tripped and fell for more than 8 yards last week. "You've got to respect that".

YDSTIE: But Blinder said that will happen very gradually over the next several years.

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