Apparently the Fed's new policy of 'transparency' has taken the shock value out of monetary policy.
The U.S. pointing to China is a bit like the pot calling the kettle black. The deficit with China reflects poor policy on both sides of the Pacific.
This has been a fundamental problem with the Fed's whole approach to policy making, ... By changing their language so frequently, they make it impossible to figure out what they're doing.
They're adding to the intellectual firepower of the board of governors in terms of regulatory and financial markets issues, but initially they won't be important players in the monetary policy front.
In total, we learned very little about the future of the economy or Fed policy except that the Fed is not ready to hike rates in the very near future.