Weekend Economists Waiting for Godot March 7-9, 2014

[Demeter]

10. Fed officials see high hurdle for changing course on QE taper

NOW THERE'S A BUNCH OF GODOT-WAITERS...

http://news.yahoo.com/fed-officials-see-high-hurdle-changing-course-qe-214906334--business.html

The U.S. economic outlook would have to change dramatically for the Federal Reserve to alter the pace at which it is winding down its massive bond-buying program, three top U.S. central bankers said on Thursday.

And one, Atlanta Fed President Dennis Lockhart, told Reuters in an interview that even a third month of below-par U.S. jobs growth would not be enough to warrant such a move.

While Fed Chair Janet Yellen has stressed that her planned wind-down of the stimulus program is not on a preset course, the comments Thursday from Fed officials spanning the policy spectrum make it clear that the hurdle for any change is high.

Weak economic data, even if it persists for a few more months, does not meet that test, all three said....


ARE THEY ROBOTS, PROGRAMMED TO HOLD TO A COURSE OF ACTION, EVEN IF THE BRIDGE BE OUT, THE ROADS WASHED AWAY, AND THE EARTH RENT BY QUAKES?