Fotios Tsarouhis
All posts from Fotios Tsarouhis
Fotios Tsarouhis in "Profit is sweet, even if it comes from deception." - Sophocles,

Markets rally, dovish Yellen is dovish

You can have your happy hour martini in peace, stocks shot up this afternoon following the release of the minutes of the Fed’s September meeting. Not much has changed, to the relief of Wall Street. Dovish Janet Yellen is dovish.

The Federal Reserve has renewed its pledge to keep interest rates near zero for a “considerable time” as the financial recovery progresses. Though the central bank has agreed that they will begin to increase rates when the economic environment is healthy enough, no one is saying when they project that will be.

At press time, Standard & Poor’s 500 Index (SPX), the Dow Jones Industrial Average, and the NASDAQ Composite Index all had risen between 1.2 percent and 1.4 percent.