- Schedule to pull the plug to trigger the global economic, financial and currency collapse? October 2013 will be very stormy and rough! Got physical gold yet?
- FOMC Minutes: Half The Fed Participants Said It Would Be Appropriate To End QE “Late This Year”!
by Tyler Durden, http://www.zerohedge.com/
Discord appears to be the best word to describe the FOMC minutes but the baffle ’em with bullshit seems like the order of the day:
– FED SAYS SEVERAL ON FOMC SAW QE TAPERING LIKELY WARRANTED SOON
– FED SAYS MANY ON FOMC SAID LABOR GAINS NEEDED BEFORE QE TAPER
– FED SAYS FOMC SAW FISCAL POLICY RESTRAINING ECONOMIC GROWTH
As a reminder, uberdove Charles Evans wanted 200K or more in job gains in the past two quarters. Here’s the thing – the average monthly job gain in the past 6 months is… 201,000. As for the punchline:
– HALF OF THE FED INDICATED IT LIKELY WOULD BE APPROPRIATE TO END ASSET PURCHASES LATE THIS YEAR – NOT SLOW END
– A FEW PARTICIPANTS INDICATED THAT THE COMMITTEE SHOULD SLOW OR STOP ITS PURCHASES AT THE JUNE MEETING – “OR STOP”
Communication matters apparently. But the key is that taper appears (forget about an all out stop) to be coming soon – and as usual – it’s all data-dependent. Aside from that, it is the usual baffle with BS schtick. Most importantly, with half the Fed saying not just taper, but flat out end to QE by 2014, we now have a full blown mutiny in the Fed.