The Fed was upbeat about the economy in its statement, saying growth was solid, but the details of their individual forecasts show more worries about both higher inflation and a slowing economy.
Viktor Shvets, the global strategist at Macquarie, asks the very fair question of whether the still enormous gap in valuation between the S&P 500 (at 20 times earnings) and China (on 11 times earnings) should continue.