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Taper? We Don’t Need No Stinkin’ Taper

September 19th, 2013 - 6:19 am

Don’t worry, America — Ben Bernanke has it all under control:

The U.S. Federal Reserve said on Wednesday that it would continue buying bonds at an $85 billion monthly pace for now, expressing concerns that a sharp rise in borrowing costs in recent months could weigh on the economy.

The decision surprised financial markets, which were braced for a modest cut in the central bank’s economic stimulus, and Fed Chairman Ben Bernanke refused to commit to a tapering of purchases later this year, as he had previously suggested.

“There is no fixed calendar schedule. I really have to emphasize that,” he told a news conference. “If the data confirm our basic outlook, if we gain more confidence in that outlook … then we could move later this year.”

Stimulus now, stimulus tomorrow, stimulus forever!

Because you can’t get rich without spending trillions of dollars you don’t have.

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All Comments   (2)
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Can nobody spell anymore? This is at least the 4th time this morning I've seen the same mistake. People, it's T A 'M' P E R. Not Taper(unless it's being burnt at both ends)..
1 year ago
1 year ago Link To Comment

It's not the $85B/mo that kills the dollar. It's when that number becomes $1T--just to monetize the interest payments on the debt.

Oh, we'll get there. Just wait.
1 year ago
1 year ago Link To Comment
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