On Tap Thursday: Fed concludes its two-day open market meeting
The Federal Reserve concludes its two-day open market meeting and Chairman Ben Bernanke will hold a press conference following the release of its decision on interest rates.
It is expected that the Fed will launch QE3 in an effort to revive the labor market, which has yet to respond to two previous rounds of bond purchases.
But some analysts may be paying more attention to the remarks made by Bernanke and his answers to questions more than the actual actions announced.
Meanwhile, the dollar hit a four-month low on Wednesday, which reflects fears that Moody’s will downgrade the US credit rating, and Congress continued to adopt a no-see policy to the looming fiscal cliff.