Bernanke said:

What Bernanke said to move the market so much yesterday was his goal to end quantitative easing by the end of this year or when unemployment hits 7%. That was not what the market was wanting to hear so BAM – the Big Bond Selloff began!

But there was disagreement among the FED Board as to what Big Ben had to say.

How fast and what will the end of quantitative easing look like? Stop all at once or reduce the buying by $10 Billion each month until the $85 Billion is gone? What will they do with the reinvested payoffs and principle payoffs? That might also have a huge market impact depending on their choices.

Hang on!!

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