I really think, in the end, it probably doesn't matter for the Fed. They have made it clear that they want to be preemptive. They want to take action before signs of inflation are apparent so they can get ahead of the curve, and (that way) they have to do less in terms of raising interest rates instead of doing more.
More Quotes from Michelle Laughlin:
The thing yesterday for the first time in a long time was reduced risk-aversion...it was the reverse of the flight-to-quality.Michelle Laughlin
I think the Fed is in a wait-and-see mode so the market is going to be in a wait-and-see mode. We're going to wait until we can assess the impact of Asia.
Michelle Laughlin
The U.S. economy is quite strong right now however, globally there are still a good number of risks which exist.
Michelle Laughlin
It's not worse than what we've seen, so I think the market can weather it.
Michelle Laughlin
Nearly unanimous. Nobody expects the Federal Reserve to move today.
Michelle Laughlin
The whole debate about whether deflation is a risk has come full circle.
Michelle Laughlin
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