by Karl Denninger, Market Ticker:
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4 percent.
Meh. They’re also ending their balance sheet runoff.
So here’s where we are.