Taperless USD & Merkel’s Pro-Growth Coalition

Last week's blow to “Taper Mania” by the Fed decision to go taperless despite explicit hints at scaling down purchases in September by Chairman Bernanke and notable declines in jobless claims and the unemployment rate, will highlight the Fed's division during this week's upcoming public appearances by Fed presidents and board governors.  Yellen's postponement of a speech to the NY Economic Club scheduled for Oct 1st suggests that she will have received the nomination by then, which would oblige her to delay any public appearances until confirmation hearings are finalized in Congress. More analysis here