FOMC Knee Jerks Reactions

2:32 p.m. ET Not much change. Asset purchases (QE) to end in early March Start of a hiking cycle “soon” (read March) Nothing new on balance sheet reduction (QT)- balance-sheet-shrinking (QT) will start after rate-hikes commence The Fed didn’t really surprise since did not bring forward the end of QE or explicitly name a time for…