ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING
December 16th, 2013
All eyes are on the FED and The FOMC meeting this week. The FOMC starts their meeting on Tuesday and will release their statement at 2 pm Eastern on Wednesday.
There is more and more speculation that the FED could taper at this meeting – many experts now calling it a 50/50 proposition. Some prognosticators are actually predicting the FED to taper like the opinion below:
“We now look for the Fed to do something meaningful at the December 18 meeting,” wrote Michael Moran at Daiwa Capital Markets America in a note. “We view the announcement of a reduction in asset purchases as the most likely outcome; absent this, we expect some type guidance on the FOMC’s plans for the effort.”
If the FED tapers, the markets will also be looking at how much they will pull back on their bond purchasing budget. Any sort of taper will likely mean a large rise in rates.
With interest rates at around 4 month highs – I am still suggesting locking before the meeting. If rates drop significantly after the announcement (unlikely) – rate float downs are available when rates drop .25% with the same costs.
Have a great week!!
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ALL EYES ON FED STATEMENT WEDNESDAY – 50/50 CHANCE FOR TAPERING