On the surface it looks the Fed Statement is not going to be what many investors were expecting. In fact it looks much more like a conservative approach fiscally by the Fed and President Bernanke. While the Fed says purchasing of various instruments will remain open-ended, it only has allocated in essence less than 50 billion at this time. This amount is far below many analysts expectations. So the answer appears to be for now that investors will be disappointed. This certainly cannot be counted as a new quantitative easing. And it appears on the surface, though the Fed would most likely deny it, that they are waiting to see how the political winds blow in November. Short-term traders who are long equities will try to put a positive spin for their vantage point, claiming that money will be worth less, but the math does not add up per today’s Fed move. Jobless numbers will continue to be monitored the Fed says, but as written here already it appears that the person who will be occupying the White House come late January – after the November elections – is of paramount importance for future decisions. Today’s move will be interpreted as actually more positive by fiscally more conservative investors who would rather see better corporate tax structures and an improvement on the costs of hiring new workers which they believe are actually the keys to stimulating the economy. It appears for now that the Fed has actually decided to make it look like they made a move and have the capability of doing more, but after the smoke and mirrors vanish it is likely most investors will realize not much took place today.