Is The Fed Just Giving The Market A Dose Of Psychological Strength?

In its press release yesterday, did the Fed intentionally ignore the impact of credit markets in order to prevent a full-blown financial panic? According to the text, Bernanke & Co. are still watching inflation intently and its long-term economic view precludes it from acting upon last week's drastic credit crunch. And, in the wake of the Fed's statement, pundits are in agreement that the Fed seems unconcerned about credit market deterioration. They also note that the Fed is sending a...