Fed days are just another day. The importance of Fed Day and these meetings are just a mirage.
These meetings and announcements are similar to economic data releases. They may provide short term jolts to the market and create short term algo parties, but those algo’s are playing a desperate losers game.
The framework of what’s really going on is shaped gradually over time. Any comments from Yellen are hyped up by the media because that’s their job. You might hear things about inflection points, but they really aren’t.
The market has a better grasp on rates and all of this than any of us. We just have to ignore the noise and pay attention to what’s going on in the charts.
Trade ‘Em Well!