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Hawkish Fed Statement Sparks Selling Frenzy In Stocks, Commodities As Rate-Hike Odds Surge
ZeroHedge
Oct 28, 2015
http://bit.ly/1kSu2Ve

[snip]

All major US equity indices have tumbled on the Fed statement, moving into the red for the week. Dec rate-hike odds have risen from 34% to 44% and The USDollar is surging (led by a plunging EUR) and commodities are broadly weaker. The bond complex is mixed with 2Y yields notably higher and 30Y yields unchanged...

Fed Mouthpiece "Explains" Janet Yellen's "Less Dovish" Hold
ZeroHedge

Oct 28, 2015
http://bit.ly/1O7Yszd

[snip]

There aren’t many things you can count on in this crazy world, but one constant is Jon Hilsenrath’s hallmark lightspeed, embargo-assisted copy editing skills and make no mistake, it’s a good thing Hilsy can turn a 539-word FOMC statement into a 593-word article because with all of the confusion going on in the Eccles Building these days, someone has to explain things to the world - and quick.

Below, find the Fed whisperer's latest, in which he attempts to come across as less befuddled than the central planners he's writing about when it comes to explaining how Janet Yellen and co. have become the embodiment of the "deer in headlights" meme now that their new reaction function includes an admission of their own reflexivity. Here's Hilsenrath on what certainly looks like a "less dovish" hold.

Via WSJ

Federal Reserve officials Wednesday kept short-term interest rates unchanged near zero, but opened the door more explicitly than they have before to raising rates at a final 2015 meeting in December.

In a statement following a two-day policy meeting, Fed officials suggested they had become less concerned in recent weeks about turbulent financial markets and uncertain economic developments overseas.

They also pointed specifically to the next meeting as a time when they would be assessing whether it was time to raise rates.

“In determining whether it will be appropriate to raise (interest rates) at its next meeting, the (Fed) will assess progress-both realized and expected-toward its objectives of maximum employment and 2 percent inflation,” the Fed said in its statement.