video transcript

-- columnist James. The Fed minutes are out and are a lot of different people worried about a lot of it. So long the FOMC said -- need to taper or. QE3 quarter give -- our group and others are against it saying the potential cost of reducing or ending cheesy. Finally saw that -- court. Instead of ending it essentially pledged to hold on to the assets. Or three trillion dollar balance sheet. The amazing thing to me is that didn't seem to care. -- -- these floods in anything good progress cast. The market truly believe that -- were really seriously considering in the near term slowing asset purchases. Or even rehearsing and selling some stuff. Risky assets were really really -- So the question becomes. If it's act which isn't asked to tighten more. Who exactly is and that's the -- in the Fed watchers. My guess is that Ben Bernanke and Shani you know you -- very good impression. -- committee and our. And that people who watch the -- believe it may well open to debate. And I'm not going to be doing anything anytime real -- -- -- ask -- much faster. That's keeping the market -- The question remains of course what happens when Henri beat you reached a slowdown. -- Going to be terrible for the bond market it's Kennedy who really get to a terrorist acts. Fattest cat -- -- wrong. Done that several times in history and says he's 89 and last. Every single time. When they -- all with either our recession. -- It'll be interesting to see if this time. -- --