FOMC more optimistic on growth and employment, but slightly more concerned on inflation.
Tapering purchases to start later this year and maybe finished mid 2014
Start, pace and end tapering remain very much data dependant.
Bernanke tries to convince markets that start of the rate cycle is still far away and independent on the fate of the asset purchase programme
First reaction of markets suggests Bernanke didn’t succeed in calming markets.
Read the full report: Market Research
KBC