The Fed moved yesterday to decrease its massive Trillion dollar a year money printing scheme to a more modest $900 billion a year.
Yesterday, post taper, interest rates didn't move much. This is because yesterday's small taper had been anticipated widely and priced into the market for months and the Fed gave no definitive time table to end QE. In addition, the market knows that Janet Yellen will be the Fed Chair next year and that her views on monetary policy are even more "accomodative" than Mr. Bernanke's. Further tapers or threats of further tapers will cause interest rates to rise and the stock and real estate markets to correct.
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