“The Federal Reserve purposely seeks not to surprise the market. And it delivered no surprise today, keeping rates steady. The statement following the meeting confirmed what the market has suspected, namely that demand is moderating bringing it closer to the economy's growth potential.”
“On the fringes of the market, there is beginning to be some talk of the possibility that the Bank of Japan intervenes to sell U.S. dollars. While possible, the probability seems low at the present.”
“Companies are not helpless in fluctuating currencies. But if you listen to these U.S. companies, you only hear about it when the currency situation hurts them, never when it helps them. I'll listen to these excuses when they acknowledge that this stuff cuts both ways.”