Calling the financial tightening caused by rising long-term rates "unwelcome," Bernanke - in Day...
Calling the financial tightening caused by rising long-term rates "unwelcome," Bernanke - in Day 2 of Humphrey Hawkins testimony - hints the purpose of his taper talk in June was to wring out some excesses from the markets. "It's probably a good thing to have happen," he says, adding it may now be easier to get hawkish leaners to go along with continued $85B/month in QE. "We've not changed policy. We are not talking about tightening monetary policy."
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