I just read the statement, and other than the expectation of reducing purchases $10B in January, nothing has changed. They have reiterated the previous terms under which a reduction in QE and a return to higher interest rates would occur, and they even expect that those are going to take a long time, ie., more than a quarter or two at least. It will be interesting to see whether or not they actually do taper in January.
It seems like a fitting egomaniacal send off for the Bernanke. Promise a taper a month out, during a cyclical high, while inflation is almost non-existent. Maybe we'll get a bit of a roller coaster in January, then Yellin comes in to the position in February right?
To answer the question of where we go from here, I dunno, possibly creeping up slowly into the new year, remain kinda flat? The Dow and S&P, aside from the news hype whipsaw circle jerk, did what it always does, no taper = higher highs.
It seems like a fitting egomaniacal send off for the Bernanke. Promise a taper a month out, during a cyclical high, while inflation is almost non-existent. Maybe we'll get a bit of a roller coaster in January, then Yellin comes in to the position in February right?
To answer the question of where we go from here, I dunno, possibly creeping up slowly into the new year, remain kinda flat? The Dow and S&P, aside from the news hype whipsaw circle jerk, did what it always does, no taper = higher highs.
