YellenFOMCWith the Fed announcing an additional $10 billion taper moments ago, bringing monthly asset purchases down to $50 billion a month (still a pace of $.6 Trillion a year), ultra-dove Janet Yellen is preparing to take to the podium to deliver her very first FOMC press conference & Q&A session.
Watch it LIVE here at SD at 2:30pm EST

haircut

At this afternoon’s FOMC Press Conference in response to a question posed as to whether the Fed would ever impose depositor haircuts as was attempted this week in Cyprus, Fed Chairman Ben Bernanke confirmed that Cyprus style depositor haircut wealth confiscation is possible here in the US if the Cyprus event or another event in Europe were to become contagious and the people lose confidence in the US dollar.


GOT PHYZZ??