Is Yellen putting an end to the ‘Fed put’?

An article from Bloomberg today … She’s No Greenspan: Yellen Signals She Won’t Babysit Markets in Turmoil It looks at how Janet Yellen has signaled she wants to place the economic outlook at the center of policy making, while looking past short-term market fluctuations To do so she must “wean investors from the notion”that the Fed will bail them out if their bets go bad — just as a put option protects against a drop in stock prices … i.e the “Fed put’. Says Bloomberg: When Fed officials met in October, two weeks after the Standard and Poor’s 500 Index (SPX) wiped out all of its gains for the year, they discussed adding a reference to market turmoil in their statement