So far markets haven’t much responded to the long-dreaded announcement by the Federal Reserve Board today that it plans to “taper” stimulative bond-purchasing in January. It is, to be sure, a slow “taper,” from $85 billion to $75 billion. But still, with the economy remaining shaky and fiscal stimulus pretty much off the table, it’s a big move. Let’s hope it’s not accompanied by panic and that Ben Bernanke makes it clear the Fed’s not going all austericratic on us.
Feed the Political AnimalDonate
Washington Monthly depends on donations from readers like you.