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Fed's Quantitative Easing in Focus

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All eyes are on the FOMC meeting today. Most market participants aren’t expecting any moves in the overnight Fed funds target rate, but will be focused on what signals the Fed may give on its quantitative easing program which is set to expire in September.

According to Bloomberg, former Fed governor Laurence Meyer (1996-2002) predicts the central bank will announce an end to the program. Meanwhile other economists such as Lee Hoskins (Cleveland Fed president 1987-1991) think the Fed is likely to leave the QE option open, taking a hint from the Bank of England last week when it expanded its quantitative easing program by 40%. The FOMC statement is due out at 2:15 PM EST.
SOURCE:   Minyanville