The market reaction to the Fed today was not surprising given the state of things in the US Economy. I would say were in a soft spot, where there is not very much growth, but its not disastrous enough to warrant the Fed stepping in and buying up treasuries.
Ben did say that he would entertain the idea if the job situation here in the US did not get better. The Fed's forecast for growth was revised downward, but still growing. The problem is... (see the rest at CMT Trader)