Fed Promises Nothing On QE3 Stoppage

The Federal Reserve Chairman Ben Bernanke appeared before the Joint Economic Committee in Congress today to explain the position of the Central bank on its bond buying program, among other things. There was a clear takeaway from the testimony, Ben Bernanke is promising nothing when it comes to ending QE3. According to Jon Hilsenrath over at the Wall Street Journal, what Bernanke said this morning was that when the Federal Reserve decides to end QE3; “it won’t be abrupt, and it won’t be predictable.” Bernanke is, according to Hilsenrath, trying to kill speculation that the Federal Reserve will consistently taper…