With that in mind, Briefing.com has been struck by the Fed's statement today that it would"need to monitor developments closely" as that mirrors this statement at the December meeting:"The Committee will continue to monitor closely the evolving economic situation."... That December statement was followed by an intermeeting cut 15 days later... Also notable is that no such"monitor closely" comment was made after the January meeting, and not coincidentally, the Fed made no intermeeting move... Just an observation which, for the moment, traders care very little about...

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