Recent
Fed president comments indicating that the infamous 'taper' is still waiting at
the station for the economic train to build up enough thrust to leave the
station without Bernanke attempting to push and force it:
New York Fed Bank President Dudley said that the economy has not
improved meaningfully enough to tighten monetary policy.
“To begin to taper, I have two tests that
must be passed:
(1) evidence that the labor market has shown
improvement, and
(2) information about the economy’s forward
momentum that makes me confident that labor market improvement will continue in
the future,”
Dudley said.
He continued, “we have yet to see
any meaningful pickup in the economy's forward momentum… the economy still needs the support of a very
accommodative monetary policy.”
Meanwhile, Atlanta Bank President Lockhart said,” In
the short time between now and the October meeting, I don’t think there will be
an accumulation of enough evidence to dramatically change the picture.”
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