@daveironore "How did you interpret it gj ?"
What would I know?? I have almost given up thinking I have anything to add to debates on the state of the U.S market. .... But you asked .....
I think the figure and announcement totally in line with expectations.
So interesting )& laughable to me) the "expert commentary" since explaining the little relief rally on I=U.S. SM's. is something along the line that the Fed confidence to predict tapering to commence means, "what they did is tell us they feel really good about the economy." (Bloomberg)
The reality is that they are 'so confident" in the economy and the markets that they are continuing the unbelievable $120B bond buying per month BUT will begin the taper sometime in the future .... remember TAPERR does NOT mean cease and the predictions are it will drop by $15 B /month to a figure still north of $100B PM.
In other words the "game" continues & they will be pumping the $120B PM for the next little while to inflate markets. The question I believe people need to ask is what would markets look like without the stimulous?
Also if things turn ugly through say Chinese property contagion (doubtful IMO) or more likely some black swan event where do the Fed turn MORE stimulus??? (please) or cutting interest rates that are at zero???
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