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Bernanke: Quantitative Easing Is Not 'On A Preset Course'

Wednesday, July 17, 2013 - 8:01 AM
Bernanke's prepared remarks for today's Humphrey Hawkins Congressional testimony are out.

The main headline is that the path of bond purchases going forward is not on a "preset course."

Chairman Bernanke: "We are relying on near-zero short-term interest rates, together with our forward guidance that rates will continue to be exceptionally low--our second tool--to help maintain a high degree of monetary accommodation for an extended period after asset purchases end, even as the economic recovery strengthens and unemployment declines toward more-normal levels."

Stocks, bonds, and gold are rising following the release.

Ben Bernanke Humphrey Hawkins Testimony - Business Insider

The 'punchbowl' of easy money will stay on the table with no stipulations for ending the policy.  We could have full employment and the bottomless rate pit will remain.  Wall Street: "Thanks Ben".
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