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Bernanke made a pretty huge point during his much-hyped press conference.He’s saying there’s no QE3 coming.
How do we read that?
He believes the economy will recover, and he says the conditions right now in the economy are much different than they were last summer when QE2 was announced.
Deflation has been slayed (he says) and payrolls have accelerated. This is pretty straightfoward and he said that multiple times.
The market didn’t seem to sense any more easing either. Stocks drifted lower, and the dollar went up.
See full coverage of the press conference here.
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