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Penultimate Meeting: Ideal Moment For Bernanke

Penultimate Meeting for Bernanke as Fed chairman is the ideal opportunity to start tapering.

Even if the market will face a 20% correction, Bernanke could always say to have saved the economy at this point and leave the responsibility to his successor for any next move.

In any case he is the winner.

The market is not expecting the Fed starting tapering today as well as the majority of experts. They could be wrong and the market could be vulnerable to a sizable correction.

Buying some puts is a prudent move at this point.