It was a very interesting and volatile week for the U.S. equities. S&P 500 finished just shy of its historical high, gaining 2.7% for the week. Nasdaq and Russell 2000, as a proxy for high-tech and small cap stocks were even more optimistic, ending the week at a 14-year and an all-time high. The reason for investors’ optimism lies behind the reverse in dollar and most importantly, the conclusion of the Federal Open Market Committee meeting on Wednesday with the official policy statement now omitting the word “patient.” Long story short, Fed revised its previous guidance for GDP growth from 2.6-3% to 2.3-2.7%, forecasts unemployment rate at 5-5.2% vs. 5.2.-5.3%, and sees inflation at 0.6-0.8% vs. 1-1.6% three months ago. Janet Yellen, during her press conference said that rate hike decision would be based solely on economic data as early as June. No doubt investors loved it and sent the “fear gauge” 18.6% down, to a 13.02 mark.