Sunday, January 05, 2014

Fed's Bill Dudley: The Fed Doesn't Fully Understand How QE Works


...And this coming from the people who want their word to become equivalent to gospel in a time when QE is being phased out and replaced with forward guidance. Luckily, at least the Fed knows all about how "forward guidance" works.

Hoosier's note: In English, that means the Fed doesn't really know what it is or has been doing but it wants you to believe that it knows EVERYTHING!