Is the Fed Confused?

Minutes from the Federal Reserve's meeting today were not much help in determining whether a rates increase is in our immediate future or not. In fact, the Fed declared that, "Given the risks to growth and inflation, committee members were uncertain about how much, if any, further tightening would be needed." Chairman Bernanke left the door wide open for either an immediate increase, or a distant "tightening." Despite these rather vague hints from the Fed, trading was up today. And although May has been more of a "sell" time, the month ended on a "buy" day. That put all three major U.S. markets in the green, and a green ending always helps me sleep! DJIA: +73.88 Nasdaq: +14.14 S&P 500: +10.25