Currency Analyst since 2010

First comments from Bernanke

Here are the points the Fed’s Chairman Ben Bernanke outlined ahead of its testimony to the Congress:

-          The Fed may taper bond purchases in 2013 and stop QE around the middle of 2014.

-           As asset purchases depend on economic and financial developments, they are ‘by no means’ on a preset course.

-          Bond buying could be reduced at a faster pace, slower pace, or even increased for a time depending on the outlook.

-          According to the FOMC, risks to the economy reduced since last autumn, labor market conditions are gradually improving.

-          Sees highly accommodative policy in foreseeable future

There isn’t much of news so far, so no reasons to buy USD.

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