 "Don't worry about taper. US Fed will never end QE, says Marc Faber")
When the Federal Reserve announces its next move tonight, some expect it to reduce its $85 billion monthly bond-buying programme, targeting an eventual end to quantitative easing in late 2014. Others expect the Fed to begin to reduce the program in early 2014, or to finish it off by 2015. But Marc Faber thinks otherwise.
“The Fed will never end QE for good,” the editor and publisher of the Gloom, Boom & Doom report told CNBC.
“They will continue because these programs, once they’re introduced, usually keep on going, he added.
“The economic recovery, or so-called recovery, by June of next year, will be in the fifth year of the recovery. So at some stage the economy will weaken again, and at that point, the Fed will argue, ‘Well, we haven’t done enough, we have to do more,” Faber told CNBC.
“The Federal Reserve-all of them-could be sitting on a barrel of dynamite, and then pouring gasoline on top of it, and then light a cigar with matches, throw the match into the gasoline, and then not notice that there is any danger,” Faber said.
“That is the state of mind of the professors at the Fed, who never worked a single [day> in business,” he said.
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