The very low level of interest rates suggests that the housing market is likely to remain strong. We will probably see a continuation of trends such as the growing importance of the services sector in our economy, which is relatively intensive in terms of employment.
It is the job of traders and investors to read our intentions from the public record, form their own judgments as to the course of economic activity and inflation that are based on, in addition to monetary policy, current and prospective fiscal policies and demand and supply shocks, and translate all that into action as expressed in the prices of a bewildering array of debt, equity, and derivative instruments.