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No QE3 but Bernanke gives some hope

(Last Updated On: September 1, 2011)

Not only did Fed Chairman Bernanke not discuss the potential for QE3 but he also did not discuss many other options for Fed policy at Jackson Hole last Friday. The onus has now shifted to the 2-day FOMC meeting on September 21 where markets are looking (hoping) for fresh policy measures. Such hopes helped US equity markets bounce back after initially reacting negatively to Bernanke’s speech.

Bernanke provided some hope to markets that the US economy wasn’t sliding into the abyss while offering the potential for further Fed stimulus even if QE3 wasn’t quite on the cards. This hope was sufficient to spur markets higher. However, importantly Bernanke noted the limitations of monetary policy in stimulating growth over the medium term.

In this respect there will be plenty of attention on President Obama’s speech on September 5 in which markets will be looking for a response from the administration at a time when the economy is becoming an increasingly important issue for the electorate.

Please click on the link below to read more…

No QE3 but Bernanke gives some hope

econometer.org

Not only did Federal Reserve Chairman Bernanke not discuss the potential for more quantitatiive easing QE3 but he also did not discuss many other options for Fed policy at Jackson Hole last Friday….

 

I don’t think discussion about QE3 is the right debate for the market this time around. can markets rally each time the fed continues to boost liquidity? where’s the growth and jobs the market expected? I personally did not think QE2 would boost either.

 

 

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