Bernanke: Is This The Queue For The Gents?
26/08/11 -- Try as I might I couldn't find a picture of a damp squib, so you'll have to make do with this. The eagerly awaited speech by Fed chairman Ben Bernanke failed to offer what the market was wanting/expecting.
Bernanke said that the Fed had "range of tools that could be used to provide additional monetary stimulus" and that he was just one of them. A tool that is.
As for QE3 you can forget that for now, it won't even be discussed until September when the Fed had decided to expand its next meeting to two days - Sep 20 and 21.
Stock markets didn't like it, with the Dow falling 200 points immediately after before recovering to around 150 lower just as Chicago opened.