No big surprises in today’s FOMC minutes. The Fed sees the economy rebounding and will remain accommodative. I did find this line somewhat amusing, however:
“As in June, nearly all participants judged the degree of uncertainty surrounding their projections of output growth and unemployment as higher than historical norms.”
Ben Bernanke’s already broken crystal ball is even more cloudy than usual. That likely means further dollar devaluation and ultra low interest rates until we recreate the next great financial crisis. Ben’s reactive approach continues….