The Truth about the Fed's "Coming" Tapering

Here's a peak into the first paragraphs of today's EPJ DAILY ALERT:

While Federal Reserve chairman Ben Bernanke attempts (via a Jon
Hilsenrath WSJ column
http://blogs.wsj.com/economics/2013/06/13/fed-likely-to-push-back-on-market-expectations-of-rate-increase/)
to charm markets into thinking that interest rates aren't going up any
time soon and that Fed "tapering" is just a glimmer in his eye for
some future period (Like after he is done serving as Fed chairman), in
the real world, commercial banks are forcing tapering.

The latest money supply numbers (See how EPJ calculates money growth
below) show that growth has, yes, tapered from a high of 11.4% at the
start of the year to a current read of 3.6%.

Here are the annualized growth numbers for recent weeks, with the most
recent week being the last number:


5.1%,  5.6%,  6.6%, 7.1%,  7.5%,  7.8%,  8.2%, 8.4%,  8.7%,  9.0%,
9.3%,  9.6%,  9.9%, 10.7% 11.4% 11.4% 11.4%  11.0% 10.5%  9.8% 9.5%
9.1% 8.6% 8.0% 6.8% 5.6% 4.7% 4.1% 3.8% 3.96% 4.1% 4.1% 4.0% 3.9%
3.7% 3.6%

To get today's full ALERT, where I discuss how commercial banks are causing tapering now, subbcribe here.