In just 44 short days since the Federal Reserve's last meeting in late January, much has happened that could have potentially swayed the rate setting panel's assessment of the economy, and yet, it won't.
Stocks are climbing, Europe is progressing, unemployment is easing, consumers are spending, gasoline is soaring and temperatures are rising but none of it will cause the Fed to budge.
"I believe that (Bernanke) would rather be known as the Fed chair responsible for 2-3% inflation than 20-25% unemployment," says Doug Roberts, chief investment strategist of Channel Capital Research and author of the book, Follow the Fed.
This Fed is going no where in terms of rates for at least a few more years. Just as they said last summer, and at their last meeting, and on Capitol Hill last week, Bernanke's Fed remains in worry mode with a bias towards easing, despite increasingly clear signs that the economy has regained its footing enough to at least stand on its own. However odd or obvious this disparity might seem, Fed watchers like Doug Roberts are convinced that the next action will be easing rather than tightening.
"He (Bernanke) is starting to drop hints...in a recent speech he talked about sterilized bond purchases which might not be QE3 but suggests he's going to do something," Roberts says, and the mere thought of it is enough to "squeeze the shorts out of the market," which has of late pushed the S&P 500 back up to a 4 year high, and crammed 10 year Treasury yields below 2%.