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Ben Bernanke to Markets: Chill Out!
One of the more conspicuous ironies of the stock market in recent years is that it tends to go down when the Federal Reserve is forecasting an improved economy. That’s because faster economic growth makes it more likely that the Fed will provide less stimulus, in the form of low interest rates, than it otherwise would. And ever since late May, the stock market has been stagnant, due in part to fears that the Federal Reserve will begin to “taper” it’s purchases of mortgage-backed securities and long term government debt. Today, Federal Reserve Chairman Ben Bernanke tried to calm the markets, announcing that ... (full story)
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