Earlier in the week Bernanke indicated he would start contracting all the money he released to boost the economy as soon as the economy entered his anticipated recovery. That, of course, would included the elimination of his QE. Bernanke also said he had a game plan to absorb all this free credit injected into the economy but he would not reveal any details of his plan.
Based on Bernanke's new relevation today regarding the recovery being so close at hand, wouldn't you think he'd start putting on the brakes?
NOTHING COULD BE FURTHER FROM THE TRUTH. Any change in Bernanke's current spendthrift ways would batter the economy, kill the housing market, and crush the banks. What a ridiculous joke!
it's time for congress to audit the Fed. We need transparency. THe American public needs to know how our tax$$ are spent and who's receiving them. The Wall Street people are so scared of the FEd that they can't even take a sh^t w/o Ben's approval. That's how much control this he has over this market <----------is this what you called capitalism? One statement from Ben and the market propels ignoring other data like rising defaults in prime mortgage and rising weekly unemployment. I will write to our congressman/senators (ie,schumer, paulson) and urge them to audit the fed and not to re-elect Ben Bernanke.