Guest Post: Be Careful Jumping On Bernanke's Bandwagon
November 23, 2012 - 6:45pm
Via Lance Roberts of StreetTalk Live, This past Tuesday all eyes were on Bernanke as he gave his speech at the Economic Club in New York. Initially the markets sold off as no mention of further easing programs were mentioned but rebounded on his closing remarks. Out of the entire speech the media, and the markets, grabbed onto Bernanke's optimism about economic growth in 2013 as shown below. Ansuya Harjani reported for CNBC: "In a speech delivered at the Economic Club in New York on Tuesday, Bernanke said 2013 could be a very good year for the U.S. economy if politicians reach a deal to avoid the fiscal cliff.” Joe Weisenthal for Business Insider: "He correctly identified the central story right now: Which is that the economy seems to be on the verge of a breakout, and yet the Fiscal Cliff remains a major threat which he doesn't have the power to count...
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