As I have been saying and showing here, the economy is far weaker than most assume or believe. Although I thought the Fed was going to taper 'their' purchases with an emphasis on the their (noting that money growth has slowed significantly, but just recently picking up), I am also not surprised the Fed did not pull back on the purchases of treasury and other debt. Following this week's events, my odds are pick'em that the Fed will pull back this year. Your guess is as good as mine.
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