What does Fed statement mean?

[Slumdog]

May be Joe or Evan can weigh in on this, but does the following mean that Fed's plan to keep interest rate low is not supported after October? The Fed statement released today effectively says:

The Committee will bring to an end its purchases of Treasury coupon securities by the end of October and will do so by gradually reducing the pace of purchases.

Long term bond yields are already up after this. ??

[Moe Bedard]

Basically it is like a quarterly earnings report of a publicly listed company, but this is the Fed's statement of its affairs.

FRB: Press Release--FOMC statement--August 12, 2009