The Fed used to say it was data dependent, until the data cooperated so they moved that goalpost. Then they said they aren't responsible for international markets, now they say they are, and they're also concerned about market reaction aka stock prices. The irony is, the volatility created by their action (or inaction) causes the very reaction they don't want to see. They are in a box of their own making. If we have to wait for perfect international economies and perfect market reaction to that, everywhere, it's like saying data dependent means "when Hell freezes".

finance.yahoo.com/ne...6.html