There was always going to be some
shock value when the Fed Changed the
considerable period' statement, but we
had always felt that the change would
come when it was fairly obvious that it
should, and when the Fed had softened
the blow, by alerting the market to such
a change, As it was, there was no such
warning, and the sharp market reaction is
testimony to just how far it caught asset
markets •off-side.
Alan Ruskin
quotehd.com