Anyone scalping the FTSE Futures??

postman said:
FOMC at 6pm tomorrow, got to be back at 16200 by then.
Click to expand...

some chap writing on wsj, david malpass says tapering is bullish for US market.

The Federal Reserve's tapering of its quantitative easing is "good news for small businesses, jobs and living standards," says David Malpass, president of Encima Global research firm and former adviser to Ronald Reagan.

While many assume that the Fed is printing money to finance its bond purchases, it actually "borrows heavily from banks, setting arbitrarily low interest rates and diverting credit away from job creators," Malpass writes in The Wall Street Journal.

"It's been sucking oxygen out of the economy, explaining the very weak growth and jobs performance from 2009-13. As the Fed winds down its bond buying, it will also stop its new bank borrowing, allowing a better allocation of credit in the economy."

Indeed, the economy already is benefiting, Malpass says. Bank lending surged in January and February as the Fed tapered, with commercial and industrial bank loans rising at a 21 percent annual rate.

"The banking system's balance sheet will go through a powerful, growth-oriented transformation as it adjusts to the taper," Malpass says. Banks will make loans to small businesses rather than the Fed, he says.

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/StreetTalk/Malpass-Fed-tapering-economy/2014/03/14/id/559605#ixzz2wKI0xJnQ
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