Dudley Speaks: "Taper May Be Appropriate Later In 2013"

Anyone expecting NY Fed's Dovish "edible iPad hedonic adjustments" expert Bill Dudley would join the hawks in being an uber dove, just hot spanked:

  • DUDLEY REITERATES QE TAPER MAY BE APPROPRIATE LATER IN 2013
  • DUDLEY REPEATS UNEMPLOYEMENT MAY BE ABOUT 7% AT QE BUYING END... and higher when Tapering begins?
  • DUDLEY SAYS REDUCING QE BUYING WOULDN'T MEAN POLICY TIGHTENING
  • DUDLEY SAYS FED WILL PROBABLY KEEP MOST ASSETS FOR A LONG TIME
  • DUDLEY SAYS `MEASURED' QE TRIMMING MAY OCCUR IN 1ST HALF 2014
  • DUDLEY: ECONOMY MAY `DIVERGE SIGNIFICANTLY' FROM FOMC FORECAST... May?
  • DUDLEY SAYS QE MAY BE PROLONGED IF ECONOMY MISSES FED FORECASTS
  • DUDLEY SEES `A GREAT DEAL OF SLACK IN THE ECONOMY'

Welcome the latest rabbit hole in Bernanke's centrally-planned bizarro world, where hawks are doves, and doves are hawks.

In other news, since the US Treasury continues to issue less gross debt which the Fed has to monetize without impairing the privately-held merkatble debt, the Fed has no choice but to Taper its purchases. Which is the whole point after all.