Commodites slide as Fed farts in their general direction

Oil is down nearly $4 bucks on the day, slumping sharply on the mere mention of commodity price inflation by the FOMC..We’ve fallen from $98.50 before the Fed to $97.25 now.

The CRB has accelerated its slide as well, now down 3.6% on the session, accelerating after the Fed statement.

Just as higher commodity prices have been a dollar drag, their reversal is dollar supportive.