By: Forbes Real Time
June 19, 2013 at 16:13 PM EDT
The Chairman Just Killed The Bernanke Put: Fed Ready To Taper QE This Year
In his post-FOMC press conference, Fed chief Ben Bernanke unveiled to reporters his plan for tapering asset purchases, indicating they are expected to begin later this year and end at some point toward the middle of 2014, if and only if the economy accompanies the Fed’s “moderately optimistic forecast.” Despite his best attempts at telegraphing to the market that tapering still means increasing policy accommodation, stocks and Treauries sold off hard, with the Dow clocking in triple digit losses and the 10-year note yield jumping to 2.34%.
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