Click to enlarge:
Source: Bianco Research
Interesting data looking at the Fed’s range of projections of key economic components of GDP, Unemployment and Inflation.
The Economist – The Fed acts, just
Final thought: by extending the expiration date of the programme to December 31st, the Fed accentuates the stimulus withdrawal syndrome scheduled to begin on that date. The Bush tax cuts and payroll-tax cut expire then, and the sequester of automatic spending cuts takes effect on January 2nd. Should we add a monetary off-ramp to the fiscal cliff?