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Thursday, June 20, 2013

Monetary

News                                                                                                                             
CNN Money | Ben Bernanke's power over your money
Ben Bernanke scared stock investors on Wednesday when he said the Federal Reserve may start slowing its economic stimulus program later this year, but what does it mean for borrowers and savers?
CNBC | Here's the Real Reason the Fed Will Taper QE: Pro
Noted Nomura bear Bob Janjuah believes he knows the reason why the Federal Reserve will begin pulling back its easing program, and it's not about unemployment, inflation or anything else directly related to the economy.

Econ Comments & Analysis                                                                                            
WSJ | The Bernanke Status Quo
The Fed still runs on Ben Bernanke time, and the Chairman is determined to keep his foot on the monetary pedal at least until his second term expires next year. Even so, his tentative plan to ease back on quantitative easing later this year, so long as growth is strong enough, was enough to keep markets roiling, especially in the developing world.
Bloomberg | Bernanke Sees Beginning of End for Fed’s Record Easing
Federal Reserve Chairman Ben S. Bernanke is putting investors on notice that the central bank is prepared to begin phasing out one of the most aggressive easing programs in its century-long history later this year.
NY Post | More easy money’s on the way
The big story yesterday was supposed to be Ben Bernanke’s signal to the markets about future Fed policy — whether he’ll scale it back, or just go on printing money to keep interest rates super-low and inflate the economy.

Blogs                                                                                                                             
WSJ | Lone Dissenter No More: Fed Officials Have Divergent Objections
Dissenting votes on the Federal Open Market Committee usually don’t have much impact on the actual direction of monetary policy, but what happened Wednesday may be different.