End of easing may hit hard
The dramatic market reaction to the Fed chairman's hint that he may put a stop to quantitative easing demonstrates just how important it has become, writes Jon Ihle.
It only took the slightest nudge from Ben Bernanke to shift the prevailing mood in the market this month.
The Federal Reserve chairman, who has led an aggressive four-year programme of quantitative easing (QE) to drive up asset prices and kick-start the American economy, said the US central bank could start gradually curtailing its $85 billion monthly bond-buying at the end of this year and stop altogether around the middle of 2014. If executed, that...
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