Markets roiled by Bernanke’s exit strategy
Financial markets were roiled Thursday by a clear signal from U.S. Federal Reserve Chairman Ben Bernanke that the central bank may be done with its monetary stimulus program by next year. While stocks and commodities took a pounding on the news, the dollar surged.
For nearly five years, the Fed has been pursuing an aggressive monetary policy to shore up the U.S. economy, which was battered by the financial crisis in 2008. Now that the U.S. economy has shown signs of improvement, Bernanke said the Fed is considering when it should start normalizing its policy.
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