Bernanke Predicts Slow Progress in Unemployment; Prepared to Give Additional Support

Bernanke did not give the markets the all clear sign of QE policy. Reading between the lines Bernanke stated that the FOMC is prepared to take action. We can see from his testimony that the FOMC may be close to to doing something given the economy and improvement on employment will be ‘frustratingly slow.’

He would prefer congress to act on the fiscal cliff.

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