shock" to the markets nike air max 98 uk , which sent bond yields soaring and stock prices tumbling, because "most people thought it was going to start tightening."
The European Central Bank (ECB) is likely to move in the same direction in October, setting out plans to scale back its own asset purchase program. Posen expected "there will be more market reactions" when the ECB does make that announcement nike air vapormax uk , because "they haven't had the taper tantrum yet."
However, the start of Fed's balance sheet reduction in October is just the continuation of a Fed tightening cycle started in December 2015, when the central bank raised interest rates for the first time in nearly a decade. It's unlikely to shock the financial markets nike air vapormax plus uk , he said.
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