Alas Poor Bernanke...he can't catch a break on Wall Street.
After shortening the "statement" to a few sentences...and eliminating as many words as possible the FED got caught with TOO FEW WORDS... Perhaps they followed my advise too well...
This paucity of words was "interpreted" as a change of policy...
simply because a few phrases were "left out" of this SHORT STATEMENT...
BUT... The statement itself is filled with caution about inflation... THIS WAS TOTALLY IGNORED BY THE MARKETS... If favor of the "word game."
The bulk of the statement...almost all of it...is expressing caution about inflation and musing about whether it can be controlled... There is the usual comment that incoming data will be examined and policy adjusted accordingly...
But was too little too late.... So Sad! Bernanke can't catch a break with the Wall Street Touts!
