Well, the sugar addicts at the Federal Reserve lolly shop will see their supply of easy money continue for a while longer, but as Henny Penny famously said, the sky is falling, and those big brave investors/traders/hedge funds -- or whatever you call them -- don't like it.

The Fed's more upbeat outlook on the US economy and the continuing improvement in the country's employment picture, plus low inflation and moderate but solid growth, means that after six years of recession, high and distressing levels of unemployment, a housing crunch, collapsed banks, record low interest rates and trillions of dollars in central bank easing, normality for the US economy is just around the corner. Within a few months we may see the Fed start tapering its $US85 billion a month in spending, and finishing in the middle of next year, if chairman Ben Bernanke's comments at a Washington press conference this morning are any guide.