The Federal Reserve on Wednesday dropped the U.S. unemployment rate as its definitive yardstick for gauging the economy's strength, and made clear it would rely on a wide range of measures in deciding when to raise interest rates.
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WAYNE KAUFMAN, CHIEF MARKET ANALYST, ROCKWELL SECURITIES, NEW YORK
So far this is just what the market wanted-the Fed staying accommodative. It doesn't look like too much has changed, although dropping the 6.5 percent unemployment rate might be a key issue. Yields are jumping up right now, which might be a sign that people think Yellen will tighten sooner rather than later, or that inflation could come into the market if the Fed keeps rates low well past 6.5 percent.
STOCKS: U.S. stock indexes edge lower BONDS: U.S. bond prices add to losses, yields rise FOREX: Euro extends losses versus U.S. dollar
(Americas Economics and Markets Desk; +1-646 223-6300) nL2N0MG1DJ