I think the main drivers of the turbulence have been concerns about the global outlook. That's how I read it. But I know that of course there is uncertainty about Fed policy. As I mentioned, we're well aware that there's been a huge focus on the decision today. And you know I would ask you to appreciate that there are a lot of cross currents in economic and financial developments that we need to take into account in deciding on what the appropriate course of policy is. And we don't make continuous decisions every single day about our policy. We meet periodically.
We do our darnest to pull together the best analysis we can. And to exchange views. And to arrive at committee decisions. I do understand that during this inter-meeting period, that every word that an FOMC member has said has been parsed for its potential implications for what our decision will be. I think that's an unfortunate state of affairs.
But I understand I think it's natural when you're at a point when the conditions may be falling in place for there to be a shift in policy. It's natural that that should happen. And it does to some extent contribute to uncertainty in financial markets.
