During an annual fishing retreat in Maine, financial world attendees share their thoughts with Reuters on when the Fed will start to taper. Here is a direct video link.
The Fed has always been hopelessly bad at forecasting economic downside–they are eternally optimistic. As they now desperately look for a good excuse to cut back on their unsustainable QE purchases, insisting the economy is getting stronger is one way to back out without admitting they were wrong on their growth assessment.
The fallout from a necessary reduction (never mind cessation) of QE is already hitting emergency markets hard and the ripple effects are spreading. See: India’s ruppee hits record low
