2013-06-25 — mauldineconomics.com
For just about as long as I can remember now, the focus has been on the Fed's "exit strategy", a phrase first coined in this context in an op-ed in July of 2009 by none other than the esteemed Chairman himself, Ben Bernanke... Except... The $800 billion Reserve Balances of July 2009 is now coming up on $1.9 trillion. Yes, "trillion".
...
When push comes to shove and instability slithers across multiple asset classes, will the Fed actually go ahead and taper? Can it afford to? A complex question, but fortunately one with a simple answer: No.
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