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That -- off and a back to you.
All right well you're looking at the silver -- there are storm clouds on the horizon investors clinging to every word from who else the -- reserve -- more.
Fed head speaking out today taking down chairmen Ben Bernanke's steeper talk.
Peter Barnes joins us live from Washington DC with a score -- because you gotta keep -- -- -- you've got who's on which side right Peter.
And it's right that I'm fed governor Jeremy Stein the latest fed official this week to come out -- comments to try to soothe market jitters about possible slower earnings tapering of quantitative easing bond purchases by the Fed last week chairman Bernanke said it could happen later this year if the economy keeps growing and the job market shows substantial improvement like heading down somewhere towards 7% unemployment.
The FOMC was thinking about this not really is a change in policy.
Mean thing I think we were thinking we have the same essential policy as before.
And we're trying to clarify a little bit what substantial improvement meant.
And at the press conference is a natural venue certainly natural first venue where the chairman can can explain.
Stein said the Fed's policy meeting in September could be an opportune time to review there review the economic data and consider tapering.
Jeffrey lacquer president of the Federal Reserve Bank of Richmond said today Bernanke was wise to clarify his remarks.
He said they meant the Federal Reserve is not only leaving the punch bowl and place.
We're continuing to spike the punch.
I don't know what -- decreasing rate but -- some of his colleagues who said the markets overreacted to Bernanke's comments.
Lakers' said lower stock and bond prices reflected a -- did reassessment of -- week.
As market participants gain additional insight.
Further asset price volatility volatility seems likely he said so far this week six fed officials have spoken out to clarify Bernanke's comments we'll hear from a seventh.
San Francisco fed bank president John Williams later this afternoon and I don't know.
If I've ever seen a week where seven fed officials came out and gave speeches like this I can't remember -- that they may be trying to spike the punch ball perhaps will be asking after this afternoon's discussion and they smoking Peter -- Washington DC.
Thank you very much OK guys that believe -- --
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