As I said yesterday, what really mattered in the Fed data was whether it decided to loosen policy or not. It didn’t. It will do so, the Fed says, if the data warrants it—but right now it doesn’t. At the end of the day, that is both what the Fed should say and what it has been saying all along.
Brad McMillan is the chief investment officer at Commonwealth Financial Network, the nation’s largest privately held independent broker/dealer-RIA. He is the primary spokesperson for Commonwealth’s investment divisions. This post originally appeared on The Independent Market Observer, a daily blog authored by Brad McMillan.