The January 29 FOMC statement was little changed from the prior meeting, although some are interpreting the adjustment of the inflation outlook as a more dovish tone. As expected, there was no change to the fed funds target range. The committee did choose to raise the interest on excess reserves (IOER) rate 5 bps to 1.6%. In our view, we are almost sure we will see enormous liquidity from China and our own FED, which will result in higher equity prices.
Source: ALM First
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