The Fed released their minutes from their June 19 meeting.
The headlines that flashed indicated that while some on the FOMC feel that taper can begin soon, the consensus seems to be that greater labor gains will have to be seen first before there is any tapering.
Note that 'taper' does not mean 'end.'
Some saw fiscal policy as restraining economic growth. While I imagine they mean the sequester, I would add that the maintaining of a broken and highly corrupt financial system as a tax on the real economy propagates stagnation.
I am still reading them. I did take time out to buy additional volatility off that spike as a hedge to the new silver in my portfolio.
Bernanke speaks in a bit, and market attention will likely fade from the minutes, which really said nothing new, and turn towards that latest shiny thing.
How can even casual comments by the Fed move the markets with such force? Because the Fed has become the market, so great is the confluence of policy errors and crony capitalism in the banking system and the government.
