| 2019-01-11 10:55:02|
10:55 01/11 01/11/19
Transcripts from the 2013 FOMC minutes were released
Transcripts from the 2013 FOMC minutes were released and revealed that Powell urged the end of bond buying "well before the end of the year" and encouraged "tapering the Fed's balance sheet." Just prior to the taper tantrum he urged "taking the next plausible opportunity" to taper bond purchases. Of course, this pre-dates his chairmanship by 5-years, but the implication seems to be that he appeared to be more aggressive back then than his current message of calm, patience and flexibility. Hindsight is 20-20, though yields have meanwhile backed up a tad from lows with stocks.