Federal Reserve meeting update.

The Federal Reserve on Wednesday (20/09/17) announced it will start reducing the size of its balance sheet. At something like $4.5 trillion it will now, after nine years finally start reducing the balance in October 2017 on a monthly basis.

US interest rates were held at 1% – 1.25%. It is now widely expected the next interest rate increase will be in December 2017 – likely followed by three rate rises in 2018.

The Dow Jones Industrial Average closed at: 22382 (another high).

Just for your information when we talk of billions and trillions written down $4.5 trillion looks like this..  4 500 000 000 000  – (That’s some balance sheet figure).

For what it’s worth – I think it very likely the next US interest rate rise will be in November 2017