Speaking in hypothetical terms, Fed Gov. Jeremy Stein suggests September as a start date for the...

Speaking in hypothetical terms, Fed Gov. Jeremy Stein suggests September as a start date for the QE taper. He says the decision will be based on the totality of the economic numbers from the past several months and that - for instance - a weak summer nonfarm payroll print wouldn't delay the start of the taper. Instead, a series of weak reports might have the Fed reversing and extending the program as necessary.

Comments (3)
  • tom_t
    , contributor
    Comments (318) | Send Message
    LOL, here we go again. Ben should paraphrase Gordon Gekko in "Wall Street": "I want zip-locked lips on the taper."
    28 Jun 2013, 09:22 AM Reply Like
  • flemsnopes
    , contributor
    Comments (124) | Send Message
    Okay! Now I understand the strategy! Say one thing today, the opposite tomorrow, and continue daily until the only sound you hear at the end of the last lie is crickets. Brilliant!
    28 Jun 2013, 10:40 AM Reply Like
  • Conspiracy Keanu
    , contributor
    Comments (10) | Send Message
    I've laughed at people's reactions to these stories for quite a while now. You guys do realize where the feds come from right? Believe me, they know about "policy ineffectiveness." What we've seen over the last few years has been a remarkable exercise in pulling everyone's chain, keeping investors off-balance, confused, wary, etc. As a result, the market hasn't been able to fully understand and price-in QE's beginning or end. Bravo feds--you've done what no other policy-making institution has been able to successfully do. Of course the price of this was always going to be the market fully depending on QE like a crack addict--with all those ramifications--but that's just one tiny flaw in the system right? And now the fed introduces "totality of the circumstances"--that same amorphous standard cops use for post-hoc probable cause justifications. Awesome.
    28 Jun 2013, 12:28 PM Reply Like
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