Essentially the stock market has been nationalized...
The S&P 500 immediately jumped to a new record high, and the Dow quickly followed. The Nasdaq also moved up after the Fed's surprise announcement.
The announcement? No end to quantitative easing is in the Fed's sight and thoughts.
Many analysts and investors had expected the Fed to announce Wednesday that it was finally ready to begin cutting back — or taper — its stimulus measures.
The overall economy has improved, and the unemployment rate has fallen, which was expected to be enough of a catalyst for the Fed to ease its so-called quantitative easing.
And what does this quantitative easing come down to?
The Fed has been buying $85 billion in bonds and other securities a month.
This is the free market doing its special, special magic trick in broad daylight: the market needs less government and more of its money.