Markets Reject Federal Reserve's QE-Taper Reasoning [Eurodollar University, Ep. 178a]

-----EP. 178a SUMMARY-----
The Fed has to taper faster because consumer prices (i.e. motor fuel, automobiles) rose faster than it expected. It didn't have the moxie to stare down the CPI increase and explain why QE (i.e. 'money') had nothing to do with CPI. Maybe they're not really a central (money) bank.

-----EP. 178a TOPICS------
00:00 INTRO: The Federal Reserve is increasing its rate of deceleration in QE purchases; taper.
00:17 Orthodox Economics believes the taper quickening is important, even critical news
01:20 The Fed's quickening seems to have been brought about by the Consumer Price Index, only.
05:14 The Fed's dirty little secret: it is not a central bank, it does not know money.
07:21 CPI %s are likely to decelerate going forward, 'proving' the Fed's taper prowess.
11:16 A taper of QE should be greeted by markets with celebration (rising yields); it hasn't been.
14:07 The 2021 reflation in economic terms was HUGE but not for long-run potential; it was "meh!"
18:23 OUTRO: USTreasuries, Eurodollar futures, US dollar and more all say 'We Reject this Taper'.

----EP. 178a REFERENCES---
Taper Rejection: https://bit.ly/3maMRFs
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

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Macropiece Theater with Emil Kalinowski (a/k/a Alistair Cooke, a/k/a Alistair Cookie) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from: Adam Smith, Arthur Schopenhauer, Bank for International Settlements, George Friedman, J.P. Koning, Jean-Paul Sartre, Karl Marx, Liberty Street Economics, Lyn Alden, Maroon Macro, Matt Stoeller, Michael Pettis, Myrmikan, Perry Mehrling, Robert Breedlove, Rohan Grey, Velina Tchakarova and yes, even Jeff Snider.

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---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Illustrations by David Parkins, myth maker. Audio and video editor, The Terence. Logo design by pixelist Lisa Jiang. Master of ceremonies, Emil Kalinowski. Musical intro/outro is "Our Christmas" by The Snowy Hill Singers feat. Sam Shore found at Epidemic Sound.

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