What Will Bernanke Say?
I believe that additional purchases of longer-term securities, should the FOMC choose to undertake them, would be effective in further easing financial conditions. --Ben Bernanke, Jackson Hole, Wyo., August 2010
The market has stayed stubbornly strong for weeks as investors anticipate some sort of action by the central banks. In August 2010, Fed chief Ben Bernanke triggered a massive rally when he announced the likelihood of a quantitative easing program at the Jackson Hole conference. Subsequently, the market moved straight up for six months with nary a dip along the way as a flood of cheap money had few places to go but into equities....431 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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