Absurd reaction to Bernanke's statement. dID people didn't ever read the news.
In its statement, the Fed repeated that it would not raise rates until unemployment hits 6.5 percent or lower, provided that the outlook for inflation stays under 2.5 percent. .Bernanke made clear that threshold was merely for considering a rate hike, not a trigger for necessarily making one. In fresh quarterly projections, 14 of the 19 members of the Fed's policy panel said they did not think it would be appropriate to raise rates until some time in 2015.
The Fed doesn't control longer interest rates, and printing too much money causes longer dated rates to rise. Despite the Fed trying to spin it as "taper", it is the Fed's own money printing which is starting to drive up longer rates.
I agree. As I recall ACG was trading well above todays level before the sharp decline in rate during 2008/2009. The question to me is how far will ACG drop from here. When the stock rebounds I think it will be fast after the nervous nellie's have all pulled out.