Yellen: Waiting For An Excuse To Call Off The Taper

In her prepared testimony she did stress her commitment to continue to follow through with the taper timetable that was established by Ben Bernanke. Of course, she did qualify that by repeating that it is data dependent, meaning that if the data changes, the Federal Reserve will change as well. I think the Federal Reserve knows the data is going to change, they are just waiting for the excuse to do what they are intending anyway which is to call off the taper and ultimately reverse it by increasing the amount of monthly QE, not diminishing it.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.