of stock market psychology
Steve, any thoughts on the yesterdays statement?....based on what was said it would seem no end in sight for liquidity programs.
No change in statement vs. last month. Ben is not going to cut short QE2. The monetary base rate of change will be immediately affected by the end of QE, regardless of rolling over maturing garbage into treasuries. Markets respond to rates of change. QE2 is bulling up the base.