At first blush this should be a bearish Fed statement for equities. At least it should take the tail risk away from a major rally. Would not be shocked to see the market drift down the rest of the day.
I recently just completed 1 year as a hedge fund manager (and I survived). Live near Austin Texas looking for investments that are undervalued and overvalued with an occassional trade thrown in. Graduated from Texas A&M University and worked in New York and Dallas for a couple of money management firms. I love the challange and the excitement you receive working for yourself.