There are events scheduled today that will likely effect interest rates, and probably the stock market.
At 1:00 PM Central Time, the Fed will release their updated estimates for future economic growth. It is widely expected that Mr. Bernanke and company will not change key short-term interest rates at this meeting, but there is a great deal of speculation that they will address or clarify their intentions on tapering their current bond-buying program (QE3).
My take is that if the Fed says that their policy announcement is unchanged – rates will likely improve. If the chairman announces a new policy course, or even hints at a policy change expect alot of volatility. …and rates to worsen.
…Will keep you posted.
Life tip: Did you know that the most common trait of successful people is optimism? Successful people tend to be optimistic!
That’s it for today!
Brett
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