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Wall Street expectations were not met as they expected the Fed might offer a glimmer of a hint they might fire up the printing press with another round of QE3 pump and dump to move stocks up. The Feds unwritten mission has always been to push up stocks and the hxll with the dollar. Problem is the stock market is not now and never has been 100% correlated and representative of the economy and the fundamentals favor the bear not the bull. The market is about expectations.

It was baby boomer demographics and new IRA/401K retirement plans that pushed the stock market up during the 80s and 90s and since then, it has essentially been dead money for buy and holders. The overhead is about demographics. Americans that are now in or approaching retirement want yield and secure returns and are not as interested in a Ponzi scheme or playing musical chairs where as demonstrated repeatedly, the casino and insiders control the music.

The dream of Wall St insiders (after they got IRAs and 401Ks) has been to capture the cash flow and a cut from Social Security taxes, and that inflow to market will offset the downward bias from boomers liquidating equity to live on. It will transfer from a government Ponzi scheme to a Wall St Ponzi scheme. Different players same outcome except Wall St banks will get their greedy corrupt paws on a significant cut just like the Fed Reserve.

By reducing savings rates to almost zero the Fed is pushing money towards their NYC money people cronies and limiting options on interest returns for average savers. Buy into the stock market at your own risk. Expect another major hit before the end of the year exacerbated by declining global earnings and US tax selling. Nothing will be fixed in DC this year or even later because politicians are inherently corrupt and interested only in getting reelected and helping those who feed them - big donors, and not at all interested in fixing our nation.