Scoreboard: Federal succour

Fresh QE reassurance from Ben Bernanke and an upbeat Beige Book gave Wall Street a modest boost.

It was a big night for the Fed last night, who held the stage and dazzled audiences around the globe. Chairman Ben Bernanke put in a sterling performance, softening the QE taper blow as expected by noting that a taper was not set in stone or on a pre-determined course. Now, I don’t think that’s really anything new, but markets had panicked a bit and like a good hound, one pull on the leash from Wall Street and the Fed quickly changed its tune.

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