The Federal Open Market Committee (FOMC) will meet on Sept. 25th and 26th. In one page or less, address the following.
1. Summarize the action, if any, taken by the FOMC.
2. Explain in your analysis why the FOMC took this action.
1. Why it took this action?
2. Discuss what effect the FOMC's actions or lack of actions had on the following:
1. Stock market immediately after the announcement on Wednesday the 26th at 1:00 central time
2. The closing price on the DJIA the day before and the day of the announcement
3. Closing interest rates (use the 3-month Treasury bill and the 10-year Treasury note) on the day before and the day of the announcement
3. Be specific (DJIA, S&P 500 up 20pts, Yield on 10yr treasury down 30bp, etc.).