30th of October 2014 - US Federal Reserve Meeting Details

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30th of October 2014 - US Federal Reserve Meeting Details

Global markets were mixed yesterday as they waited for the Federal Reserve to complete their 2 day meeting and confirm whether they would be ending their QE program.

The Fed made its announcement and it confirmed that QE would end this month and that rates would stay near zero for the foreseeable future.

The news comes at after nearly 6 years of quantative easing implemented by the Central Bank.

QE was introduced back in 2008 as a way of halting what many thought was the beginning of another Great Depression. Taking the role of economic protector the Fed implemented its scheme to purchase assets on a monthly basis which reached over $80mn per month at one point. Now they have stopped the Feds assets are now 8 times what they were prior to the crisis and it is estimated that they have injected over $32tn over the last 6yrs.

The next phase of the scheme is to get interest rates moving however there appears to be some differences of opinion from analysts as to when rates will increase. Previously the majority thought that Spring 2015 would be the target date but now we could be looking as far out as the Fall of 2015 or even early 2016.

The key reason for not increasing rates is to allow the employment market, specifically wages to start to increase and match inflation. With unemployment below 6% for the first time in as many years now the Central Bank has pointed its finger at the government and told them they need to deal with the disparity in wages seen this past few years.

One thing is for sure, the US economy is expanding at a good rate and its Central Bank has shown that commitment to its program paid dividends in the end. All we need to see now is whether the economy will continue to expand.

With the current run of earnings beating expectations again this season and the fall in oil playing into the hands of larger corporations we should and could expect to see a bull run in the markets to close out the year.

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