“confirming that the U.S. economy was on firm footing.”
Oh really??
I know, right.
Uncle Ben didn’t want to go out as the GRinch that stole Christmas.
My thoughts exactly. A $10 billion dollar a month cut means the politically connected are STILL getting $75 billion per month. And I seriously doubt that printed $10 billion will vanish out of the bond buying nonsense. Most likely it will end up propping up some other part of the stock market.
There are other reasons to cut the bond buying.
1. They can’t afford to keep borrowing for welfare AND buying their debt, so now they’ll only borrow to feed people.
2. You can’t have a fifth “recovery summer” and have bailouts and be taken seriously.
3. Tapering off the bond buying lets them say the economy recovered a year after Obama’s re-election.