Wednesday, February 19, 2014

Dennis Gartman: Janet Yellen boring

Lets talk about what Janet Yellen had to say. And it was really quite boring and that’s as it should have been. She confirmed that the Fed will continue to reduce quantitative easing by $10 billion a month as long as the data supports it. 

The decision to reduce the level of accommodation, which everyone refers to as Tapering, the fed has never used the word tapering. [This] has been reduced from 85 billion to 75 and now its down to 65 billion dollars. They are reducing 10 billion dollars every meeting.