Watch, wait and plan mode is how the Wall Street Journal described today's Fed announcement about what investors have come to know and fear as the Fed's tapering program.
Once upon a time in the Land of Monetary Policy there was QE, otherwise known as Fed speak for quantitative easing or let the ink on the printers fly. And fly it did. There are many kinds of highs in life. But for politicians and Wall Street denizens it's liquidity and easy money.
Any threat to that dynamic duo and it 's turn off the fans before you know what starts to fly. So the Fed played a little good cop bad cop announcing earlier in the day growth in the economy barely budged in the first quarter and following it up saying it will continue to pare back its bond and mortgage-back securities purchases in May.
http://online.wsj.com/news/articles/SB10001424052702304178104579533861135944336?mod=WSJ_hp_LEFTWhatsNewsCollection&mg=reno64-wsj
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