In an interview on Bloomberg Television, Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank remains committed to record stimulus, saying “any adjustment is not a major policy shift.”
Lockhart, who is a nonvoting member of the Federal Open Market Committee this year, also noted that economic data are “still very mixed,” with Monday’s ISM manufacturing report being a good example.
“We can now say with even more confidence that there is literally zero chance the Fed announces any adjustments to its QE program in June,” noted Dan Greenhaus, chief global strategist at BTIG LLC. U.S. stocks make late leap in Fed-inspired trade - Market Snapshot - MarketWatch
This is getting hilarious. When equity share prices are falling due to a bad economic statistic just strut one of the memebers of the Federal Reserve out on the stage and essentially say "no change" . Instant reversal into rally mode. Predictable as can be.