No surprises here, for few days or weeks the discussion about tapering the QE was going back and forth together with the data, if you follow this blog, I never believed that the FED officials would stop the very thing that is keeping the patient alive: freshly printed 85B/month currency in asset purchase from the FED. You can call it oxygen, heroin money, is all the same, after all…
Ben: ” We are still in the business of printing money, we’ ll keep FREE refill on KOOL-AID through the summer.”
It is the only (wrong) thing that they can do, know how to do and will do for a while, unless ordered to do else. They did make me smile today, since they were creative and so naïve enough to say: “The Fed’s consensus now expects the unemployment rate to fall to the key 6.5% level in 2014, instead of in 2015…” If we can cut the workforce down to zero, for sure we won’t miss the goal of 0% unemployment! GO FED! You got all the solution, create all the problems help all the white-shoe-boyz…
More updates as we get to the end of the circus parade for the day, ciao.