Is This The "Recovery" That Bernanke Believes In?

Tyler Durden's picture

It seems the Fed head is confident that we are on our way back (despite cutting forecasts) - well he should be given his efforts - but as the following chart shows, arguing that downside risks have diminished seems not to fit too well with macro reality...

 

 

The question is - if the macro situation is so clearly weak, juist why is he is discussing a taper (if not because he knows he has broken the markets)