Jan
27

Fewer Fed Funds

Despite the weak December jobs report, the Fed will announce later this week that it’s reducing its monthly purchases of Treasuries and mortgage backed securities by another $10 billion to $65 billion/month, down from $75 billion/month in mid-December. Manufacturing continues to improve, Q4 GDP will be 3.3% or better which is good, net exports are rising, as is industrial production and purchases of core capital goods. Bye bye Bernanke.

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