Economist Brad Schiller, emeritus professor of economics at American University and author of "The Economy Today," says the Fed has made it clear there will be no scaling back of QE3 bond purchases until about the end of 2016. Wall Street's Fed fixation - latimes.com
He bases his assertion on the goal before any tapering will be started being an unemployment rate of 6.5%, that Janet Yellen is a dove on inflation, the rate at which new jobs are being produced, and the number of people who are not currently being counted as unemployed because they have given up looking for work -- until more jobs become available.
He says even if 200,000 new jobs were created every month, it would be the end of November 2016 before unemployment would hit 6.5% and tapering would start. The number of new jobs created last month was only 148,000.