Believing Fed Tapering Will Start in September Is ‘For the Birds’: Danny Blanchflower

Global stocks markets are once rallying on the words of Fed Chairman Ben Bernanke. Just two hours after the Fed released meeting minutes showing discord among policy makers, Bernanke told a meeting of economists that the Fed needs to continue its “highly accommodative monetary policy” for the foreseeable future.” Then, U.S. stocks, which had just ended a lackluster session, took off, and e he rally continued overseas in Asian, then European markets, and into U.S. futures before the open.