When freshly installed Fed Chair Janet Yellen went before Congress yesterday, she mostly followed the script written by her predecessor, Ben Bernanke. But now that she's in charge, everything she says will carry a great deal of weight.
qe taper 2014
- Five Important Things Federal Reserve Chair Janet Yellen Said to Congress Today
- What the Fed Taper Means for Markets and Your Money
I didn't think it would happen, but Fed Chairman Ben Bernanke up and did "it" a few minutes ago.
He announced the "Fed taper" - the Fed will cut its bond buying by $10 billion a month (to $75 billion) beginning in January.
I think there are a few points to consider about Bernanke's move. I want talk briefly about those, and then highlight what this news of a Fed taper means for your money.