Reading through the Fed’s December FOMC Statement the words that most stand out are “anticipation”, “appears”, and “expect”. Information received since the Federal Open Market Committee met in November suggests that economic activity has continued to pick up and that the deterioration in the labor market is abating. The housing sector has shown some signs of improvement over recent months. Household spending appears to be expanding at a moderate rate, though it …

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Bernanke Trots Out The Boy Scout Motto