Why are stock soaring in response to the Fed statement and latest set of projections? Because as Bloomberg promptly calculated, the FOMC revised down all forecasts for 2015 since the previous SEP was released on Dec. 17.
The median dot for year end 2015 falls to 0.625% from 1.125% in Dec: a whopping 0.50% cut.
So much for the “recovery.”
The details: