With the schizophrenia that seems to have availed across the FOMC members (hawks are doves, doves are hawks, tapering is not tightening, etc.) it is not surprising that the minutes reflect some confusion:
- *FOMC SAW `SEVERAL SIGNIFICANT RISKS’ REMAINING FOR ECONOMY
- *FED TAPER LIKELY IN COMING MONTHS ON BETTER DATA, MINUTES SHOW
- *METLIFE FOUNDATION, SESAME WORKSHOP PARTNER TO PROVIDE FINL
- *FOMC SAW DOWNSIDE RISKS TO ECONOMY, LABOR MARKET `DIMINISHED’
- *FOMC SAW CONSUMER SENTIMENT REMAINING `UNUSUALLY LOW’
- *FOMC SAW RECOVERY IN HOUSING AS HAVING `SLOWED SOMEWHAT’
So summing up – when we get to an unknown point in the future with an unknown state of parameters, we may do an unknown amount of tapering – maybe possibly. Pre-Minutes: SPX 1791, 10Y 2.75, EUR 1.3444, Gold $1262
     |
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/EU-V8WhCsfE/story01.htm Tyler Durden