Peter Schiff Recommend this article      More important than the
taper "surprise" was the unusually dovish language that
accompanied it. More than it has in any other prior
communications, the Fed is now telling the markets that interest
rates - its main monetary tool - will remain far more
accommodative, for far longer, than anyone previously believed.
Abandoning prior commitments to raise rates once unemployment
had fallen below 6.5%, the new statement reads that the Fed will
keep rates at zero until "well after" the unemployment rate has
fallen below that level. No one really knows what the new target
unemployment level is, and that is just the way the Fed wants
it. On this score, the Fed has not simply moving the goalposts,
but has completely dismantled them. With such amorphous language
in place, they appear to be hoping that they will never have to
face a day of reckoning. This is a similar strategy to that of
the legislators on Capitol Hill who want to pretend that America
will never have to pay down i