Don't Cheer the Taper, Economist Cautions; Target Confirms Data...

Receiving Wide Coverage ... The Taper: The Federal Reserve announced it will begin cutting back on bond purchases next month, sooner than many economists expected. While this is generally viewed as a vote of confidence in the economy by departing Chairman Ben Bernanke, the central bank cautioned it would keep short-term rates near zero until "well past" when unemployment falls below 6.5% (it was 7% last month). The decision to "taper" asset purchases is one lessÂ...