Andy Hoffman dropped by for our regular Monday chat. Seems like all talk of tapering is now officially tapering off. As it should, because we both knew that the Fed never intended to taper and never could even if they wanted to. It’s just not in the cards. If they cut their bond purchases in half, interest rates would skyrocket and the stock market would come crashing down. So the Fed has chosen its poison, which they did long ago. They’re always going to opt for more money printing, regardless of what the meme of the day may be.
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