The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the U.S. economic recovery and ease high unemployment.
Pledge to keep interest rates low? Thought that was already implied as stocks, gold, silver, commodities and anything not nailed to the floor have rallied into the announcement. Can you believe that the miracle of liquidity will foster the U.S. economic recovery and ease high unemployment? Two words - jobless recovery. The best liquidity will do is encourage a little more leveraged-based consumption from people unaware that the economic landscape has changed.
U.S. Dollar Index (ETF):
The U.S. dollar index is toying will critical up trend support. The setup in the COT diffusion index suggested a transition. Turns usually take time. Usually, 1-2-3, or three drive to a top.
Source: finance.yahoo.com
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