In her prepared testimony she did stress her commitment to continue to follow through with the taper timetable that was established by Ben Bernanke. Of course, she did qualify that by repeating that it is data dependent, meaning that if the data changes, the Federal Reserve will change as well. I think the Federal Reserve knows the data is going to change, they are just waiting for the excuse to do what they are intending anyway which is to call off the taper and ultimately reverse it by increasing the amount of monthly QE, not diminishing it.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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