Third taper in a row

Well Yellen chaired her first succession, annouced another cut in the asset-purchase program by USD 10 bn – so they are still buying USD 55 bn a month of of mortgage-backed securities and longer-term Treasury securities.yellen

Anything else? Well the fancy sentence is now “Shifting to “Qualitative Guidance” from “Quantitative Guidance” for the federal funds rate (FFR)”

Anything else? A few markets sneezed.

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