Look at the Drivers
A few eyes are on the Fed meeting report today, but not many. They are the sideshow watching what they helped build.
Today the drivers of economic activity are a deadly combination of unemployment and consumer/real estate debt. Nothing being done in Washington is really addressing this situation. Low interest rates don’t help when few qualify to borrow and major corporations are smart enough to sit on their cash horde until the banks and the consumer implode over the private debt crisis.
The answer in Washington seems to be, cut the deficit rather than having conservatives and liberals working together to bring jobs back to the US and re-ignite economic activity.