FOMC Keeps Rates Steady

The FED announced today that they will keep the Fed Funds Rate steady (who would have thunk it?).  The FED also announced that if it were necessary it would take further steps in the markets.  This is the last meeting before the Nov 2nd elections, therefore the FED has elected to take a wait and see approach.  The stock market reacted positively to this and surged up 10,765, Gold also reacted positively to this by surging up to a new record 1290.30.  The 10 Year Treasury Bond took a nose dive in response to the FEDs position.

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