Why the Fed’s New Plans Won’t Change a Thing This Year
In an interview on CNBC, John Boehner, Speaker of the United States House of Representatives, accused Federal Reserve chairman Ben Bernanke of generating the market sell-off.
In fact, Mr. Boehner actually should’ve thanked Bernanke for the stock market rally that drove the Dow and S&P 500 to record highs. It was only because of the Federal Reserve’s easy monetary policy that stocks were able to climb so rapidly despite a somewhat sluggish economy.
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