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As Fed 'taper' looms, so do market surprises?
It's no surprise Wall Street traders have placed their bets on when and how the Federal Reserve will start to cut back on its market-friendly bond-buying program. What could come as a surprise is if the wagers don't jibe with what the Fed announces Wednesday. Whether the Fed will taper or not has been dissected for weeks. The market reaction will depend on how close what the Fed does regarding its quantitative easing (QE) policy is to the consensus forecast. The market's view, summed up nicely by a USA TODAY survey of 44 economists on Sept. 11-13, is that the Fed will start tapering its $85 billion in monthly ... (full story)