This week’s FOMC meeting has adjourned with no change to key short-term interest rates but did yield another $10 billion reduction in monthly bond purchases. The statement did have a couple of interesting points but nothing that was too concerning. The most notable was that inflation seems to be rising and getting closer to the Fed’s target rate. That could be an issue in the future as long-term bonds are less valuable to investors when inflation is high or rising. Overall though, the meeting didn’t reveal anything too significant or surprising.