20Sep 2013

Taper Talk Back On- St. Louis Fed President James Bullard Speaks

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St. Louis Fed President James Bullard Speaks

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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.

Yet here we are again just a couple of days after the Fed’s decision to keep QE in place, we have a Fed President trotted out to tell us that they might taper in October if the data cooperated.

Back to the talk taper/print paper mode?

Do you think the Fed is bluffing about tapering?



http://smaulgld.polldaddy.com/s/will-fed-taper-its-quantitative-easing-program-in-october

Results will be published at the end of the day.

Poll Closed. Results:
32 No, the economy has not recovered, the Fed will stay the course 92%
3 Yes, the economy is recovering and QE is no longer needed 8%

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