NEW YORK ( TheStreet) -- TheStreet's Lindsey Bell and Stephanie Link are discussing what yesterday's FOMC announcement means and which stocks to buy as a result.
Federal Reserve Chairman Ben Bernanke gave the market everything that it wanted except one thing: certainty.
The Fed will continue its $85 billion monthly bond purchasing plan, even though it has seen a much better employment situation and many of the risks to the economy diminish.
However, Bernanke did state the Fed will be flexible with its stimulus in the future, meaning it will eventually taper (but not abruptly stop) quantitative easing. He also reinforced that the Fed would ramp up the stimulus if the economy worsened after tapering begins.(JPM - Get Report), Wells Fargo (WFC - Get Report) and KeyBank (KEY - Get Report). On top of that, she's watching AIG (AIG - Get Report) and Hartford Financial (HIG - Get Report), adding that the companies' restructuring efforts make them attractive names. Link concluded that you "want to be overweight financials in this environment." Disclosure: Action Alerts Plus owns JPMorgan Chase, Wells Fargo and KeyBank. -- Written by Bret Kenwell in Petoskey, Mich.. Follow @traderboy23 This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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