FED: FOMC statement is almost unchanged. FOMC keeps $85b/mo QE ($45b Tsys/$40b...

FED: FOMC statement is almost unchanged. FOMC keeps $85b/mo QE ($45b Tsys/$40b...

FED: FOMC statement is almost unchanged. FOMC keeps $85b/mo QE ($45b Tsys/$40b  MBS) and does not talk about calendar timing of taper (will continue until labor  mkt outlook improves). Statement alters econ description from 'moderate' to  'modest' with 'further' improved labor mkt and 'risks' from persistently  below-objective infl. But FOMC keeps 2% infl and 6.5% unemployment rate targets.  Actions: keeps reinvest MBS/roll Tsys, keeps FF at 0-1/4%, keeps "is prepared to  increase or reduce" QE; keeps will take 'balanced approach' at end. Vote 11-1  (Gov Duke still voting despite resignation), with KC's George still dissenting  in favor of no more accommodation due to risk of higher infl expectations. Keeps  'will also consider other' labor mkt info. Adds a worry about higher mortgage  rates.