RHB | United States | "Considerable" Considerations..

Economic Research	18 September 2014
US
Economic Highlights
"Considerable" Considerations... The decision to taper by another $10bn (to a monthly purchase pace of $15bn commencing in Oct) at the conclusion of the Sep 16-17 Federal Open Market Committee (FOMC) meeting was a non-event. Also, the conditional recognition--as highlighted in the accompanying statement--that the current purchase program remains on track to “end…at its next meeting” on Oct 29 is pretty much baked in the cake. The buzz from market participants was generally on the tone of the post-meeting statement (particularly on the phraseology of the forward rate guidance) and the implied message from the participants’ economic and funds rate projections. Economist:  Thomas Lam  | +65 6533 0389