Bernanke gave more testimony on Wednesday emphasizing and defending all
Fed policies. He successfully parried all questions about QE and ZIRP risks and
made no mention of any policy exit dates. Bulls translation, the printing press
will be on “auto” to infinity.
Interesting testimony tidbits were:
“Fed could go some time without sending profits to Treasury,” (Fed is
allowed to be a deadbeat).
“Savers will benefit with economic recovery; savers won’t get strong returns
in a weak economy,” (So not in my lifetime?).