A Touch-and-Go Status Quo

Last night Fed Chairman Ben Bernanke issued a dovish speech that, though not unexpected, initially caused S&P futures to rise by 6 handles -- they have since retreated back into slightly changed.

The Fed head reiterated his view that the trajectory of growth in the domestic economy is far from where authorities want it to be. The Fed, Bernanke said, is committed to "highly accommodative policies"; it "may be some time" before "normal settings" return, and a zero fed funds rate could remain well after tapering starts and well after a 6.5% unemployment occurs. Bernanke went on to say that the May-June rise in interest rates was unwelcome and unwarranted....630 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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