In a surprise to no one, the Fed decided to maintain the current rate of bond purchases. This was mostly a foregone conclusion after the economic damage from the government shutdown, but became obvious once weak economic data surfaced this week. The only major change in the Fed statement itself is acknowledgement that the housing recovery has slowed. A slowdown in housing was to be expected given the jump in mortgage rates - which ironically were brought on by the Fed's talk of tapering. Still, as long as politics don't get in the way again, I would expect the US economy to continue to grow at a slow, but reasonable pace. At least we know for the time being, the Fed will continue to support high asset prices with its bond purchasing program in full swing.