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1 post found for July 2013

‘The end of the dark age of bonds and the dawning of a new age of equity’

On 19th June Bernanke explicitly outlined the Fed’s timetable for monetary policy. Assuming that the US economy continues to recover in-line with their expectations “tapering” of asset purchases might begin in October with exit complete by mid-2014 by when the US unemployment rate would be below 7%. In addition, the Fed would only begin to raise interest rates at a later date with an unemployment rate of 6.5% (assuming this was also consistent with its inflation rate of 2%)1. Fed “tapering” talk…