(Image Source: The New York Times)

BY DAVID EARL

 

Just a day after the Dow closed over 13,000 for the first time since 2008, comments from an economic power player sent shares sharply lower. Here’s Fox Business with the headline...

 

“Stocks are mostly lower after comments by Federal Reserve Chairman Ben Bernanke made it clear that it’s less likely the Fed will intervene to juice the economy by buying bonds.”

 

So the Fed is shifting its focus from buying US Treasury debt, and it’s keeping to standard operating procedure. Here’s Bernanke’s testimony on Capitol Hill Wednesday from C-SPAN.

 

“Looking beyond 2012, FOMC participants expect that economic activity will pick up gradually as headwinds fade, supported by a highly accomodative stance on monetary policy.”

 

Stocks went south after Bernanke’s announcement, but the Fed Chairman never mentioned another round of quantitative easing … or QE3. Really, there wasn’t any announcement on any new plan for the Fed. For an analyst on CNBC, that’s a really good sign.

 

“I think the market already absorbed there wasn’t going to be. You had to come to that conclusion because of all that economic data that was good.”

 

Consumer wages are up, spending is up … but at the Wall Street Journal, reporters find the hold-steady approach of the Fed a little concerning.

 

“To me that says, and Bernanke basically came out and said it, the Fed’s more fearful than they are optimistic. And that’s putting it politely in my opinion.”

 

Stocks weren’t the only markets that took a hit in Wednesday trading. Bloomberg says analysts largely expected a change in Fed policies, but when it became clear that wasn’t going to happen...

 

“Gold plunged, heading for the biggest decline this year … Silver slumped the most since December … The dollar rebounded.”

 

If it’s possible to get even more confusing signs on whether the economy is doing better or worse, on the heels of up-and-down data, the GDP was revised upward three percent.

 

Stocks Slide After Fed Chair Comments

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Mar 1, 2012

Stocks Slide After Fed Chair Comments

 

(Image Source: The New York Times)

BY DAVID EARL

 

Just a day after the Dow closed over 13,000 for the first time since 2008, comments from an economic power player sent shares sharply lower. Here’s Fox Business with the headline...

 

“Stocks are mostly lower after comments by Federal Reserve Chairman Ben Bernanke made it clear that it’s less likely the Fed will intervene to juice the economy by buying bonds.”

 

So the Fed is shifting its focus from buying US Treasury debt, and it’s keeping to standard operating procedure. Here’s Bernanke’s testimony on Capitol Hill Wednesday from C-SPAN.

 

“Looking beyond 2012, FOMC participants expect that economic activity will pick up gradually as headwinds fade, supported by a highly accomodative stance on monetary policy.”

 

Stocks went south after Bernanke’s announcement, but the Fed Chairman never mentioned another round of quantitative easing … or QE3. Really, there wasn’t any announcement on any new plan for the Fed. For an analyst on CNBC, that’s a really good sign.

 

“I think the market already absorbed there wasn’t going to be. You had to come to that conclusion because of all that economic data that was good.”

 

Consumer wages are up, spending is up … but at the Wall Street Journal, reporters find the hold-steady approach of the Fed a little concerning.

 

“To me that says, and Bernanke basically came out and said it, the Fed’s more fearful than they are optimistic. And that’s putting it politely in my opinion.”

 

Stocks weren’t the only markets that took a hit in Wednesday trading. Bloomberg says analysts largely expected a change in Fed policies, but when it became clear that wasn’t going to happen...

 

“Gold plunged, heading for the biggest decline this year … Silver slumped the most since December … The dollar rebounded.”

 

If it’s possible to get even more confusing signs on whether the economy is doing better or worse, on the heels of up-and-down data, the GDP was revised upward three percent.

 

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