Pay Attention to the Data

Moments ago Ben Bernanke indicated under which conditions the FED would begin tapering and the time frame for completing the "normalization" of the abnormal FED Policy: it will depend on the incoming economic data. More precisely, the FED will taper and will finish tapering (Q2/Q3 2014) IF the economic data confirm the FED's forecasts for an improving economy. (Unemployment trending to 6,75% and inflation approaching 1,8/2,0%. )

The FED basically said that fundamentals will count (remember what those are?). We should pay more attention to what the FED in monitoring and less to what they're doing, that is continued QE. What happens IF the FED forecasts prove to be too optimistic or even wrong?  Sure the markets are already discounting that the FED will be right, but the FED has continually over estimated economic growth and its sustanability during this recavery.  Do your own analysis and pay attention to the data, finally we have an indication from the FED that economic data are important once again.