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.
Tapering Arrives
by Ed Kilgore
Ed Kilgore
Ed Kilgore is a political columnist for New York and managing editor at the Democratic Strategist website. He was a contributing writer at the Washington Monthly from January 2012 until November 2015, and was the principal contributor to the Political Animal blog.
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