Hot off the press, Fed mouthpiece Jon Hilsenrath of the WSJ is out with a new report:
The Federal Reserve is having some trouble explaining itself.
Fed Chairman Ben Bernanke told Congress on Wednesday that the central bank could start reducing its $85 billion-per-month bond-buying program at one of its “next few meetings” and cautioned that he was reluctant to move aggressively or prematurely.
That straightforward message, however, has been muddled by a number of other signals sent by the Fed and Mr. Bernanke himself in recent weeks.
…Some observers say there is room for improvement. Timothy Duy…said the broader message-that the Fed could start to cautiously pull back its big bond program in the coming months-is slowly sinking in, “but they’re having some problems with the execution.”
So, I guess that means tapering. Or does it?
