by Jason Farrell , Daily Reckoning.com.au:
Taper now! Taper with all you’ve got!
This is the message — more or less — from former Federal Reserve chairman Alan Greenspan in an interview today with CNBC.
“The sooner we come to grips with this excessive level of assets on the balance sheet of the Federal Reserve — that everybody agrees is excessive — the better… There is a general presumption that we can wait indefinitely and make judgments on when we’re going to move. I’m not sure the market will allow us to do that.”
Finally, some clarity! Even the “Maestro” of the dot-com bubble has seen the light. Could Bernanke be far behind?
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