So yesterday the Fed came out and said they would leave interest rates unchanged until the unemployment rate is below 6.5%. At the same time they lowered economic growth forecast and said that they believe unemployment will be above 6.5% at least until going into 2015. Wow, so these guys printed and spent up all this money, and they still can’t get the economy to squeak out a number in their favor. All while the tax payers foot the bill. Truly amazing.. In addition to fixing the stock markets like a casino and keeping zombie banks alive. Applause, applause, never would’ve thought the game was that crooked… Meanwhile job searchers good luck, they may possibly be an opening or more jobs available after 2015, but given the going track record of how the money printing stimulus plan has been working, it’s definitely doubtful.

Stock Market News – Recent Bernanke Talks, Promises, Promises..

Unbias Stock Market News -

The Federal Reserve’s pledge on Wednesday to continue its easing bias may have broadly met expectations, but its historic move to set numerical targets took many by surprise.

U.S. stocks wiped out gains in choppy trading after the U.S. central bank made the unprecedented announcement of keeping interest rates suppressed until unemployment falls below 6.5 percent and inflation tops 2.5 percent. In addition, the Fed said it would continue monthly purchases of $85 billion in Treasury securities and mortgage-backed securities until job market conditions improved.

On the outset, the Fed’s unorthodox move appears to be its latest salvo to battle the economy’s erratic and sub-par recovery. But some market watchers say: don’t read too much into it.

According to Greg Gibbs, senior FX strategist at RBS, the numerical targets aren’t all that aggressive as the central bank had already alluded to them since last year.

“These threshold figures are consistent with the economic forecasts and rate guidance that have been in the Fed’s quarterly economic projections since last year,” Gibbs said.

In fact, Gibbs argues that the thresholds are “a bit less” dovish than expected, noting that the Fed’s longer term “central tendency” for unemployment has been 5.2-6 percent, so 6.5 percent is above the upper end of this range.

“Some Fed governors have expressed a preparedness to see short term inflation as high as 3 percent to more closely meet the full employment target,” he said.

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