This article struck me as an important read (h/t Casey Research).
Essentially, in contrast to the recent chatter about how the FOMC minutes suggested an end to QE programs, a bunch of the voting members have spoken out in favor of staying the course, and perhaps even expanding asset purchases.
I thought this quote from the NY Fed President, William Dudley, provides great insight for those trying to forecast what's coming: "After reviewing the efficacy and costs of this program, I have concluded that that efficacy has been as high or higher than I expected at the onset of the program and costs the same or lower." In other words, "It's great, we see no consequences, so why would we stop anytime soon! In fact, why not do more!"
Great example of the Hyman Minsky logic -- that a lack of consequences immediately is often viewed in the most favorable way possible, leading to complacency and recklessness.
