Updated from 7:53 p.m. ET to include information about after-hours action involving Transocean and Juniper Networks.
NEW YORK ( TheStreet) -- It's safe to say the Federal Reserve didn't exactly wow Wall Street as the dust clears from its first meeting of 2012.
Whether the central bank's pledge to keep rates low "at least through late 2014" turns out to be a huge mistake or not remains to be seen, but based upon the halfhearted rally that followed the news and Thursday's poor showing, traders have found some downside in the Fed's decision to open up so completely.
Either that or traders were really counting on an early dose of quantitative easing.UBS was generally positive in its assessment of the news but the firm did point some of the risks as well. "
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV