The latest excuse for not tapering was the two-week drama in the US about our budget and debt limit.
The Fed’s policy-making committee ends a two-day meeting on Wednesday and the chances are vanishingly small that it will start to dial down the monetary stimulus right away.
The recent government shutdown in Washington and last-gasp deal to raise the federal debt ceiling have simply created too much economic uncertainty.
As a result, on industrial output, retail sales and consumer prices as well as the Institute of Supply Management’s October manufacturing survey will be limited.
Forget that the budget and debt roil was in October and no one with an ounce of sense thought that we wouldn’t get a budget or an increase of…
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