Minnesota businesses are expanding their use of mobile Internet service, preliminary results of a state-sponsored survey show.
While wired service continues to be the most widely used form of Internet access, about 34 percent of state businesses, or 49,000, use mobile Internet access on phones, tablet computers or traditional computers, said Connect Minnesota, a company sponsored by the Minnesota Department of Commerce. More detailed results from the April survey will be released later.
It was also a gutsy move by the FOMC, given the consensus expectations going into the meeting that the Fed was poised to taper. It puts in jeopardy the FOMC credibility with the markets as it tries to
communicate its asset purchase intensions in the future and throws off the scheduled timing of asset purchase reductions that Bernanke and others have laid out over the last few months.
Markets are swiftly pricing in the change in Fed policy expectations. The 10-year Treasury yield is trading down 17 basis points. The S&P 500 is trading up 1.3 percent, while oil was trading 2.7 percent higher and gold was up 3.8 percent. Interest rate forecasts for this year and next will likely be lowered a bit in the wake of this decision and the expectation that the Fed will not be hiking interest rates as soon as the Fed funds futures market had been pricing in.