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ZACKS
Wednesday Fed Watch

Stocks rushed higher early on Monday moving towards the mid-point of the recent trading range. Then later in the session, some investors got skittish when it was reported the Fed may be ready to start tapering QE as early as this Wednesday's Fed meeting.

I highly doubt it.

More likely they will produce a roadmap of what it would take for tapering to commence. And that the September, October and December Fed meetings are a more likely launching off point then this June (assuming economy rolling along at around +2% and job gains being made).

I know a lot of people keep pointing back to the Fed statements about 6.5% employment being the target. However, that is probably 12-18 months away. And if true, then the Fed would not have gone on the speech circuit talking about the end of QE at this time. So they will start tapering before that time.

Fear not. Less QE = higher bond rates = bond investment losses = stocks more attractive.

The Zacks community is actively discussing what is on tap this Wednesday: Join the discussion at What Will the Fed Do Wednesday?

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Best,

Steve Reitmeister (aka Reity...pronounced "Righty")

Executive Vice President

Zacks Investment Research

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