by Graham Summers, Gains Pains & Capital:
Just what is the Fed so scared of?
Today, the Fed’s favorite reporter, Jon Hilsenrath at the Wall Street Journal published an article completely refuting his own work from just two weeks ago.
If you’ll recall, two weeks ago, Hilsenrath wrote that the Fed was planning to taper its QE purchases before the end of the year.
Today, Hilsenrath wrote that when the Fed does taper its buying it won’t be “predictable.” So which one is it? And more importantly, with stocks hitting a new high almost every day, why is the Fed so alarmed about signaling an end to its massive monetary stimulus efforts?
After all, the first Hilsenrath article didn’t even put a dent in stocks. They’ve gone almost straight up since he wrote it on May 13.
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