Joshua M Brown
December 18th, 2013
He surprised them all in his last FOMC meeting, exiting his role as Fed chairman with a token taper of just $10 billion from the ongoing $85 billion per month asset purchases (now $75 billion).
This is what I wanted to see (check out Just Do It) and apparently the market’s first reaction was happiness as well (Dow up two hundo as of this posting). The Fed has also gone out of its way to delineate between the taper and any sort of interest rate tightening – and so far the market believes them.
I just searched the term “the fed is trapped” on Google and came up with 39,100 results.
Bernanke wrecked them all.