U.S. Federal Reserve Chair Janet Yellen. Photo: Reuters, Charles Mostoller
U.S. Federal Reserve Chair Janet Yellen. Photo: Reuters, Charles Mostoller

As Asia Unhedged predicted, the Fed statement was dovish: gradual increases based on monitoring inflation data. Bonds are rallying  and the dollar tanked. US stocks are on fire with the Dow Jones average up 100 points at 2:08 p.m.