CALDEIRÃO DE BOLSA

2:13 PM ET 9/20/06 FOMC HOLDS RATES STEADY, LEAVES DOOR OPEN FOR MORE HIKES
2:13 PM ET 9/20/06 FOMC SAYS ENERGY PRICES HAS POTENTIAL TO SUSTAIN INFLATION
2:13 PM ET 9/20/06 FOMC SAYS HOUSING IS COOLING, PULLING DOWN GROWTH
2:13 PM ET 9/20/06 FOMC SAYS MODERATION IN GROWTH CONTINUING
2:13 PM ET 9/20/06 FED'S LACKER DISSENTS AT FOMC MEETING, WANTED HIKE
2:13 PM ET 9/20/06 FOMC REPEATS SOME FURTHER TIGHTENING 'MAY' BE NEEDED
2:13 PM ET 9/20/06 FOMC REPEATS INFLATION RISKS

NEW YORK (MarketWatch) - The Federal Reserve's new monetary policy statement contained "no major surprises" for the stocks and bonds markets, according to Steve Goldman, Chief Market Strategist at Weeden & Co. Earlier the Fed left the fed funds rate unchanged at 5.25% and issued a statement saying growth was moderating and that inflation also was likely to moderate, although inflation risks remain. "The general feeling was that the market is not that concerned that core inflation remains elevated because inflation is likely to moderate," Goldman said. The decision to leave rates steady was widely expected. Both stocks and Treasurys held onto their gains after the news

NEW YORK (MarketWatch) - The Federal Reserve's new monetary policy statement contained "nothing that changes the 'soft landing' scenario [for the economy] that most people have embraced," according to Bill Hornbarger, chief fixed-income strategist at A.G. Edwards. Earlier the Fed left the fed funds rate unchanged at 5.25% and issued a statement saying growth was moderating and that inflation also was likely to moderate, although inflation risks remain. "There's nothing new here for the bond market," Hornbarger said. "Prices are down a bit, but still up on the day."

Bem, fica tudo de novo adiado para 24 de Outubro.Até lá como diz o JAOR "vamos indo e vamos vendo...".

QQ das formas sou de opinião que a malta do FED tem um menino ingrato nas mãos e apesar de toda a contestação até que não estão a sair-se mal. Era mesmo bom que fosse soft landing...

Cumprimentos

em tuguês:

Reserva Federal norte-americana manteve as taxas de juro inalteradas, pelo segundo mês consecutivo, com o crescimento económico moderado e a queda dos preços do petróleo a sugerirem uma desaceleração da inflação nos próximos trimestres.

Esta decisão de manter os juros nos 5,25% foi reforçada pelos dados económicos divulgados ontem e que mostraram uma forte diminuição na construção de habitações e uma queda dos preços no produtor.

O custo económico de continuar a atacar a inflação, depois de dois anos de política contraccionista, poderá ser demasiado elevado, segundo analistas citados pela Bloomberg.

Saliente-se que a Fed subiu juros 17 vezes consecutivas, entre Junho de 2004 e Junho deste ano.

A maioria dos membros da Comissão do Open Market da Fed está preocupada com o impacto nos gastos do consumidor e nos empregos se as taxas de juro subirem mais.

"A Fed está, basicamente, a perdoar toda a pressão derivada dos custos energéticos que se estendeu aos preços de outros bens e serviços", disse à Bloomberg o economista-chefe da Lehman Brothers, Ethan Harris.

Tal como o esperado, a FED (Reserva Federa Norte-americana) manteve as taxas de juro nos Estados Unidos inalteradas.

Do texto que acompanhou a decisão, destacaria: "inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand."

Os mercados aliviaram, ligeiramente, após a decisão, mas sem grande convicção, para já.

Aqui fica o texto completo:

"The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

The moderation in economic growth appears to be continuing, partly reflecting a cooling of the housing market.

Readings on core inflation have been elevated, and the high levels of resource utilization and of the prices of energy and other commodities have the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand.

Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Jack Guynn; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Kevin M. Warsh; and Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting."

(in www.federalgovern.gov)