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Yellen supports decision, variables besides unemployment rate important: Bernanke

  • "Is $10B an increment people should anticipate?" CNBC's Steve Liesman asks Ben Bernanke at the press conference following the FOMC decision."That would be the general range.. but [it is] still data dependent," Bernanke responds, adding that "the general sense of the Committee is that MBS and Treasurys will be reduced equally" going forward.
  • Liesman also asks why the Fed doesn't just "pick a number," in the context of what unemployment rate the Committee is looking to before raising rates. "We don't want to look just at the unemployment rate," the Chairman says. "We couldn't put it in terms of another unemployment rate specifically," he adds, noting that "other variables" must be considered.
  • What role did "Janet Yellen play in the policy laid out today?," Jon Hilsenrath asks. Bernanke says he has "always consulted closely" with Yellen, and today's decision was no different. "She fully supports today's decisions," Bernanke adds.
  • Meanwhile, markets (SPY, DIA, QQQ) are rallying as investors seem pleased with the more dovish forward rate guidance.
  • Previous: Fed to taper $10B per month
Comments (4)
  • wyostocks
    , contributor
    Comments (7829) | Send Message
     
    Did he also say, I'm out of here before this whole mess blows up?
    18 Dec 2013, 03:03 PM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    the "pick a number" question is a very good one. the answer was equally as good. "nu par Ruski."
    18 Dec 2013, 03:05 PM Reply Like
  • Ted Bear
    , contributor
    Comments (597) | Send Message
     
    He is screwed, and he knows it.....talking about 'Inflation', but muttering about the way more serious issue of Deflation.
    18 Dec 2013, 03:11 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (8526) | Send Message
     
    Tapering announcement during the week of December options expiration?

     

    I gotta admit...they've got a pair!!

     

    I truly didn't see this coming but at least my mREITs should have a great Q1!
    18 Dec 2013, 07:50 PM Reply Like
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