How Strong Is the U.S. Recovery?
(Smart Money) — GOOD MORNING. Asian markets finished mixed, with shares rising in Japan but falling in Hong Kong and China. European shares are falling, and US futures are pointing to a lower open. Just how long is this recovery going to take? As anticipated, the Fed’s Open Market Committee left interest rates unchanged in its statement of monetary policy yesterday. But investors may not have been expecting the central bank’s somewhat gloomier take on the recovery. The Fed said the recovery was proceeding, but that “financial conditions have become less supportive of economic growth” due to problems abroad.