Economist David Wilcox flagged one line in the Fed statement — the C.BANK
"reaffirmed policy of maintaining ample reserves in the banking system" — saying
it was notable because the Fed would not need to single that out otherwise.
Markets had widely expected new chair Wash might shift the balance-sheet
operating regime from ample to scarce reserves; Wilcox said today's statement
indicates they have not done so, at least not immediately.
