WASHINGTON (MarketWatch) ó For the first time since the financial crisis started five years ago, the Federal Reserve has at last made its first signal that its extraordinary loose monetary policy will start to get tougher.
To be sure, the change isnít gigantic. Thereís no sense that interest rates will increase from the near zero levels that have lasted for over four years.
And the Fed only last month initiated a new bond-buying program, to top off a plan to add more mortgage-backed securities that had only been around since September.
But, the minutes show, the central bank is starting to say, enough is enough. Of the crowd that supported bond buys, a few say they should continue until the end of the year, and several said it could stop, or slow, well before then. ........................(more)
1. They Need To Figure Out A New Way To Invent New Economics
I'm sure they'll come up with something to kick the can further down the road.
Myself, I'm still hopeful that Ben will send out helicopters with money, although I am realistic enough to know, that only banks will be given the opportunity to stand below should such an instance occur.