AS CHAIRMAN BEN BERNANKE CLARIFIES FED’S MOVES, MARKETS FREAK

(McClatchy) The Federal Reserve might begin tapering off its economic life support late this year and finish a controversial program of bond purchases by the middle of the next year, Chairman Ben Bernanke said Wednesday (June 19) in remarks that triggered fear and loathing in financial markets.

Stocks fell sharply after Bernanke used a mid-afternoon news conference to clarify the circumstances under which he’d begin easing off the pace of purchases of government and mortgage bonds, a pace that’s now averaging $85 billion a month.

Go to story

-----
TIP: American families and individuals seeking the benefits of jurisdictional wealth diversification, asset protection and prudent global investing, find out more about ONE Trust, a complete multi-jurisdictional solution for US persons >>>