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The sentence that spooked the markets
August 20, 2015 14:58:02 | 0 comments

"Most (officials) judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." What it means is in the eyes of the beholder. For me, it means that the FED is over the fence, afraid to jump to either side. This, plus the decline in oil prices, led to the carnage we are seeing today in the stock markets.