Fed Review: An unchanged QE pace is a sort of tapering scenario

The Fed is in wait and see mode ahead of the potential upcoming debt mountain and leaving the QE pace unchanged may be interpreted as an indirect light-tapering scenario. Higher real rates could be on the cards during the next quarters. Highlights from the analysis: A stating the obvious FOMC-meeting as the Fed awaits the Yellen debt/fiscal mountain Strong words from Powell on “accepting inflation overshooting” Maybe tapering is not around the corner, but unchanged QE is a light-tapering scenario in itself Inflation is coming but markets are on top of it. Higher USD real rates next? And how about a USD reversal? … (full story)

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