The fed is not ending monetary stimulus. They are just buying less.
Doesn’t seem like we have a lot to worry about.
The current plan is to cut by $10 bln per meeting, and Yellen’s accession aside, it’s supported by a more conservative set of voting members next month.
I’m not “worried” — I’m actually rooting for some normalization in asset prices. If it nails emerging markets which lived on credit and boomers who used their homes as ATM’s, so be it.
