Yesterday, the Federal Reserve held its usual 2-day meeting to discuss the economy, both global and domestic, employment, inflation, etc. as it decides what it might want to do with respect to its target on short-term interest rates. Seem to us that the Fed did a nice job of threading the needle as they decided to hold short-term rates unchanged. With this backdrop, we thought not is a good time to make an adjustment to our position in FITB, a super regional bank.
