by Sy Harding, Financial Sense:
Good luck to new Fed Chair Janet Yellen and her expectation that the Fed can continue to taper back its QE stimulus at the current pace until it is completely gone by summer.
The economic reports say it is not going to happen.
In her optimism regarding the economy, expressed in her testimony before Congress this week, Yellen pointed to GDP growth hitting an average annual rate of 3.5% in the last half of last year, compared to only 1.7% in the first half.
Regarding the negative consequences tapering seems to be having on emerging markets she said in effect that the Fed is only worried about the U.S.
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