Bernanke press conference: Should projections hold, Bernanke sees QE ending "around mid-year"...


Bernanke press conference: Should projections hold, Bernanke sees QE ending "around mid-year" 2014 and the unemployment rate being about 7% at that time. Responding to a question, he says the FOMC stands ready to quickly adjust - i.e. fire purchases back up - should it prove to have made a mistaken forecast. Stocks (SPY -0.5%) and Treasurys (TLT -1.2%) are at session lows.
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Comments (16)
  • bfstrog
    , contributor
    Comments (74) | Send Message
     
    "We'll taper, but not if we're wrong, which based on our horrible track record, we probably are."
    19 Jun 2013, 02:53 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    "Should projections hold......." Should the queen have balls she will be the king....clueless BEN
    19 Jun 2013, 03:05 PM Reply Like
  • gsterling
    , contributor
    Comments (1418) | Send Message
     
    Would you rather see what would have happened if he didn't implement QE? Especially with a do nothing Congress.
    19 Jun 2013, 03:12 PM Reply Like
  • ptnyc
    , contributor
    Comments (83) | Send Message
     
    Good point, gsterling. It is very fashionable to hate Bernanke and Fed policy. Bears have been very disappointed that we haven't had a market crash since 2008. Sure plenty of people would have made lots of money betting on our market and economy crashing, but does anyone really want to live through such a global debacle? It would have made the Great Depression look like a vacation. While we are in uncharted waters and things are still going to be difficult going forward, we are a helluva lot better off with the Bernanke put.
    19 Jun 2013, 04:13 PM Reply Like
  • The_Hammer
    , contributor
    Comments (5093) | Send Message
     
    Better off? The pain has not even arrived yet. When the dollar has a swift sharp devaluation over some future weekend get used to a much lower standard of living and wealth confiscation.
    19 Jun 2013, 04:21 PM Reply Like
  • minecanary
    , contributor
    Comments (1274) | Send Message
     
    YES, the market should have been allowed to function on its own w/no TARP let alone the QE series. All's it did is let the bankers pocket many billions of the public's money and postpone the days of reckoning - which will now be postponed again after the ruling elite stain their undies seeing what reality might be like
    19 Jun 2013, 04:33 PM Reply Like
  • RAP77
    , contributor
    Comments (528) | Send Message
     
    What we're seeing now looks more like deflation than inflation.

     

    That's what Bernanke has been trying to avoid though the way it's gone, it could happen that soon as he stops pumping money into the economy a lot of activity will stop, cash will be king, corporations sitting on $1T and the wealthy will buy up everything at a fraction of it's cost.

     

    Only then will inflation set in and the dollar have a "swift sharp devaluation". Historically, that's how wealth confiscation plays out.
    19 Jun 2013, 05:16 PM Reply Like
  • The_Hammer
    , contributor
    Comments (5093) | Send Message
     
    Tapering? They have done a great job (The Fed stooges) convincing investors that there is a chance of tempering. Not a chance in hell that printing will stop.
    janet will be in charge in 2014 and she will come up with some new name for money printing to restrain the bond vigilantes. Asset Collapse or print inflation. Print they have chosen.
    19 Jun 2013, 03:25 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Do you think an asset collapse is a good idea for the real economy at a time like this?
    19 Jun 2013, 03:35 PM Reply Like
  • The_Hammer
    , contributor
    Comments (5093) | Send Message
     
    Both options are not good imo. A lose lose situation at this point. The stooges are backed into a corner. Should of stopped the schemes after internet bubble they have gone to far now. Damn misguided arrogant bureaucrats have enabled this debt ponzi.
    19 Jun 2013, 03:45 PM Reply Like
  • 2LO Asset Management
    , contributor
    Comments (8) | Send Message
     
    And the flushing of the economic toilet continues. Wheee!! little turds into the abyss.
    19 Jun 2013, 03:25 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    He said everything is fine..getting better...but we can´t quit our crisis mode...does not make sense to me.....he is lying....wait until Obamacare takes out a few thousand businesses....
    19 Jun 2013, 03:49 PM Reply Like
  • ncbeachguy
    , contributor
    Comments (7) | Send Message
     
    not only takes out a few thousand businesses............but also wipes out 10s if not 100,000s of family trying to pay obamacare premiums.
    19 Jun 2013, 09:11 PM Reply Like
  • Ben Bernankes friend
    , contributor
    Comments (475) | Send Message
     
    Well, markets seemed pretty receptive to the idea today.......
    19 Jun 2013, 04:05 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4296) | Send Message
     
    At some point, CBs will lose control. Hard assets are cheap. For now.
    19 Jun 2013, 04:17 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    The FED destroyed the free markets as we knew them after the LTCM bailout. Greenspan then Ben and probably Yellen...All these FED HEADS have no clue to the ways of the market, just economic theory...If the economy is doing better and the markets seems to say they are (NOT really though) we don't need QE. Crackheads are what we have become
    19 Jun 2013, 04:43 PM Reply Like
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