Stocks fell somewhat after the FOMC announced around 2:15 p.m. that it was maintaining its current asset-buying policies and holding interest rates steady. But shortly after 3, the market dropped much more precipitously, with the Dow briefly falling more than 100 points, signalling that investors may have been expecting the fed to take more action.
But despite a collective yearning for QE3 asset-buying program, some economists expect the Fed to continue to hold back on more aggressive measures.
“We continue to believe that trends in growth and inflation will stay the Feds hand on QE3 (though we cannot rule out further accommodation) and we expect that the next major initiative from the FOMC is likely to be an early-2012 change in communications strategy,” wrote economists at RDQ Economics.
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