A Market in Fed-Anticipation Mode
We are just one day away from the Federal Reserve’s decision on what just about everyone on Wall Street is hoping for, and that’s another round of quantitative easing, or QE3. The majority opinion out there among economists is that the Fed will institute some form of monetary stimulus, although there’s hardly any consensus on what form that stimulus will take. Moreover, there’s not much of a read on how big a potential QE3 might be. Until we get the word directly from the Federal Open Market Committee’s (FOMC) statement, which will be midway through Thursday’s trading session; the market will remain in anticipation mode.