Up until recently many banks and other large companies had been toying with the idea of delaying bonuses from their traditional payout dates in January, February and March until after the April 6 step-down in the tax rate.
The U.S. unemployment rate took another baby-step down this morning according to the Labor Department, who say employers added just 88, 000 jobs last month.
Given the losses they have already suffered through the pound's fall, will they step up their purchases, especially as the growth rate of global foreign-exchange reserves is slowing?
But you have to wonder whether it will also turn out to be another step towards a post-crisis world of monetary policy, where the nominal rate of inflation is no longer the target of choice.
The approval came as the Fed also took the extraordinary step Sunday of lowering its emergency lending rate to financial institutions by a quarter-point to 3.25 percent.