Bernanke on Tapering Fed’s $85 Billion Monthly Security Purchases
-We’ll look at it in coming meetings.
-We'll be looking at the data’s basic outlook.
-If the data tells us we need to do something, we'll take the first step at some point.
-That point is possibly later this year, possibly not.
-We’ll continue so long as the data supports continuation.
-Nothing’s really changed here.
-Two things. First, asset purchases are not on a preset course. They are conditional on the data. And B, they've always been conditional on the data.
So, in summary, they aren’t doing anything, and don’t plan on doing anything unless then need to do something.
Low interest rates are here for a long time. Buy stocks. Borrow money.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury