Quantitative Easing made the news on Wednesday as Bernanke decided that QE3 might be in the cards. Even though Bernanke is pushing for QE, not all FOMC members agree with it but many did agree with the notion. At this point however it could just be some fancy jawboning to stimulate the market so while it's in the card - it's not a sure thing.
The current Fed pledge is to keep rates at “exceptionally low levels” through at least late 2014 will not change and may extend further into 2015.
The jawboning by the FOMC did little to move the markets but there was a jolt against the USD and Gold made new short-term highs in anticipation of the move which will not occur until September (if it does).
Stay tuned!
Neal Vanderstelt - Currency Analyst
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