Fed: Economy Still Needs Life Support
The bad news is that the economy is still looking a wee bit sickly. The good news, such as we find it, is that the Fed will not be dumping the patient onto the floor and telling him it's high time he got off life support. Translated into less metaphorical terms, that meansthe Fed is going to keep buying bonds over the near term, rather than tapering off its purchases as markets had feared. Stock in firms like Toll Brothers Inc. (a mega-developer of residential real estate) received a nice boost from the news; as a result, the value of your home probably went up a little bit, too.
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