What to Look For When Bernanke Starts Talking
From blogs.wsj.com
To QE3 or not to QE3, that is the question. Fed Chairman Ben Bernanke takes the podium at 10 a.m. in Jackson Hole, Wyo., and while the speech may not generate quite as much heat as Clint Eastwood’s interview with the imaginary Obama last night, it’s still pretty important. So here’s what to look for at 10 a.m. First off, there will not be an outright pledge from Bernanke to start up another stimulus program, a so-called QE3. This speech is mostly a set-up for later Fed meetings. Even after the 2010 Jackson Hole speech, in which Bernanke gave the markets the big nose-tap, the Fed didn’t move on QE2 until November. We ...
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