Ben Bernanke outlined his plan for scaling back the Federal Reserve’s stimulus programs today, which included raising the interest rate back above near zero, which is where it has been since January 2008, in order to contain inflation. However, the Fed Chairman would not be pinned down on a date for such an occurrence.
You see, it’s complicated — there are multiple signs Dr. Green Shoots is waiting for, signs that only he can see, including but not limited to the wheat being yea high and a comet streaking across the midsummer night’s sky. But at least he didn’t say, “How about never? Is never good for you?”
Federal Reserve’s exit strategy [Federal Reserve]
