” the FOMC did not modify its forward guidance, leaving the unemployment rate threshold for the first rate hike at 6.5%”
That is not correct. From the statement:
The Committee now anticipates, based on its assessment of these factors, that it likely will be appropriate
to maintain the current target range for the federal funds rate well past the time that the unemployment
rate declines below 6-1/2 percent, especially if projected inflation continues to run below the Committee’s
2 percent longer-run goal.
And that is why the market took off, not the $10 billion taper.
But the real unemployment rate after you take out all the frauds and Gimmicks is probably over 3 times the rate they list.
But gullible sheeple will believe anything.
At 2%/year, it simply means the government wants to steal about 20% of your wealth every decade ... do the math ...
And we let them get away with it!