St. Louis Federal Reserve Bank President James Bullard told Bloomberg News this morning that the Fed might taper its $85 billion a month Quantitative Easing (QE) program in October but they would need to see how the economic data looks.
Mr. Bullard further noted that “This was a close decision here in September“.
The vote was 11-1 in favor of continuing Quantitative Easing.
Back in August Mr. Bullard stated “The Fed needs to see more data on macroeconomic performance for the second half of 2013 before making a judgment”
Looking at more data will only confirm that the economy is not improving in spite of five years of QE.
In “Never Mind the Bullards” a Smaulgld post we noted that the Fed loses credibility when it keeps bluffing about tapering.
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