Back
20 Nov 2013
Flash: Bernanke makes for forward guidance again - BBH
FXstreet.com (London) - A currency research team at BBH noted that Bernanke's comments late yesterday did not break new ground.
Key Quotes:
“If there is a take away, it would reinforce ideas that QE will be replaced by more emphasis on forward guidance”.
“This is perfectly consistent with what Yellen (and Dudley) said. This helps draw the distinction between tapering and tightening”.
“Bernanke did note that the markets previously were struggling to make this distinction and that that played a role in the decision not to taper”.
“The FOMC minutes from last month's meeting will be released today. These are unlikely to move the markets, but may be interesting to see the discussion on fiscal policy, especially as we head toward the new self-imposed deadlines”.
Key Quotes:
“If there is a take away, it would reinforce ideas that QE will be replaced by more emphasis on forward guidance”.
“This is perfectly consistent with what Yellen (and Dudley) said. This helps draw the distinction between tapering and tightening”.
“Bernanke did note that the markets previously were struggling to make this distinction and that that played a role in the decision not to taper”.
“The FOMC minutes from last month's meeting will be released today. These are unlikely to move the markets, but may be interesting to see the discussion on fiscal policy, especially as we head toward the new self-imposed deadlines”.