Salient to Investors:

The Fed is expected to affirm its accommodation on Jan. 29-30.

Julia Coronado at BNP Paribas said we’re in uncharted territory, and as the easy money flows through financial markets and into the real economy at some point, the US faces many risks.

Michael Hanson at Bank of America said it’s hard to find another example in history where the Fed pulled out all the stops to help a recovery along – it’s at least as revolutionary as Volcker hiking rates until inflation declines.

A Fed study said the Fed’s payments to Treasury – the Fed uses interest income from its bond holdings to cover its own expenses and sends the remainder to the Treasury – will decline for a time, and in some scenarios fall to zero.

Brian Jacobsen at Wells Fargo Advantage Funds said the Fed is boldly going where no central bank has gone before.

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