Despite Taper, The Fed Is Setting Up To Shock The World
March 19, 2014
Today one of the most respected money managers in the world warned King World News that despite the tapering action, the Fed is setting up to shock the world. Michael Pento, who is founder of Pento Portfolio Strategies, also spoke about the impact this will have on major markets, including gold. Below is what Pento had to say.
Pento: “Of course the Fed lowered the amount of monthly purchases to $25 billion mortgage-backed securities and $30 billion Treasuries, for a total of $55 each month. This was already in the cards and didn’t surprise anybody….