Nothing surprising out of this month's FOMC meeting

Nothing surprising out of this month's FOMC meeting. The Fed is reducing their bond buying program by another $10 billion, as expected. Total Treasury and MBS purchases will now be $65 billion per month. Other than that, the Fed statement has very few changes from December's. The Fed's language suggest economic activity may be growing at a slightly faster clip than last year. Although, the statement did mention that labor market indicators were mixed. The market reaction has been solidly negative, as there were certainly many investors hoping for a delay in tapering With that out of the way, investors are likely to pay close attention to GDP results tomorrow for the next set of clues on the state of the US economy. (VIEW LINK)