FOMC Meet detailed note.....

US Federal Reserve Chairman surprised the world when he went against popular perception and announced that the Fed would continue its stimulus programme and keep bond purchases at the current level of $ 85 bn per month. The Fed's move is seen as a result of not so positive growth numbers despite accomodative policies and worrying levels of unemployment that has still not come within the comfort zone.

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Here are top 10 quotes of of the Federal Reserve Chairman, Ben Bernanke

1) "Asset purchases are conditional on data, not on preset course" 

2) "Rise in mortgage rates, fiscal policy restrain growth" 

3) "Economic growth is moderate, downside risks to growth have eased"

4) "Awaiting more evidence that economic progress will be sustained"

5) "Meaningful progress made since asset purchases began"

6) "Unemployment above acceptable levels at 7.3%. See somewhat better conditions in Europe"

7) "If data confirms Fed's basic outlook, we will take the 1st step possibly later this year"

8) "Decision not to reduce stimulus was a precautionary step"

9) "See economic headwinds prevailing through 2015"

10) "Fed has strong institutional credibility - independent, nonpartisan."

Courtesy - Business standard