POG $1721.60

Just as consensus demanded expected, the FOMC transformed sterilized 'Twist' into unsterilized QE4 in addition to QE3's MBS buying and lowered economic forecasts - dropping calendar-based rate guidance unchanged with a shift to "Evans-Rule"-like threshold-based guidance. High inflation, forget it; 'lower' unemployment, naah; market wants 'moar' so market gets 'moar'. $4 Trillion balance sheet here we come (check to Draghi's OMT and Spain or EUR 'richness' crushes hopes of recovery).

• *FED BOOSTS QE WITH $45 BILLION IN MONTHLY TREASURY PURCHASES
  
• *FED TO KEEP BUYING MORTGAGE BONDS AT PACE OF $40 BLN PER MONTH
• *FED SAYS MONTHLY PURCHASES TO TOTAL $85 BLN
• *FED ADOPTS ECONOMIC THRESHOLDS FOR POLICY TIGHTENING
• *FED: RATES TO STAY EXCEPTIONALLY LOW WITH JOBLESS ABOVE 6.5%
• *FED: RATES TO STAY LOW WITH INFLATION SEEN AT 2.5% OR LESS

Disappointingly for AAPL investors, there was no explicit decision to monetize mini-iPads (or their own subsidized student loan debt in the ultimate reacharound).

http://www.zerohedge.com/news/2012-12-12/fomc-does-exactly-what-market-told-it-do