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Picturing The Slow Rise And Quick Fall Of Fed Credibility
"There's no alternative in making monetary policy but to communicate as clearly as possible, and that's what we tried to do," is how Bernanke defended the Fed's actions over the last six months. But, as the WSJ's Jon Hilsenrath rather snarkily explains, the Fed's 'communications strategy' was a stumbling effort to let the public know what was going on as their efforts to telegraph strategy left investors confused at key points about where it was heading, and some misread Mr. Bernanke's intentions about the bond-buying program and interest rates. That disconnect exacerbated a real-world problem: rising rates that by ... (full story)
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In the tempest of a fast moving market; not everyone is happy.
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"To hold, you must first open your hand. Let go." - Lao Tzu
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Carbon-Dioxide: the gas of life!