- In letter to Issa: Scope for further action
- Past QE has worked, helped promote recovery
- Operation Twist effects still working way through economy
Pretty consistent with what we know, but Mr. Market is a little excitable these days…
“There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery,” Mr. Bernanke wrote in a letter dated Aug. 22, a copy of which was obtained by The Wall Street Journal.
Scope for QE? How knew?
I guess the one thing you can take away from this is that the letter was written Wednesday, so the chairman does not necessarily agree with Bullard that the dovish minutes were “stale”.
