The Fed is in perpetual kick-the-can mode. Greenspan played the equivalent of QE, but it wasn't apparent as rates started from a much higher figure. Bernanke is a much worse offender as it's done nothing outside of the perception that the QE is spurring growth. Home builds are far beyond natural demand. This is Soros' reflexivity in action.......... the perception of QE is an order of magnitude greater than the efficacy. It's a de facto bailout of the money-center banks, that's all.
Bernanke is afraid of all the banks that are still holding non performing assets. As long as rates are low the banks make enough money to cover there non performing assets as well as make a good profit.
Bernanke, who are you working for?? <embed name="cnbcplayer" PLUGINSPAGE="http://www.macromedia.com/go/getflashplayer" allowfullscreen="true" allowscriptaccess="always" bgcolor="#000000" height="380" width="400" quality="best" wmode="transparent" scale="noscale" salign="lt" src="http://plus.cnbc.com/rssvideosearch/action/player/id/3000182232/code/cnbcplayershare" type="application/x-shockwave-flash" /> </object>
We all know the Fed works for the interest of the Big Banks. Seems Bernanke has taken a sideline job to tell whatever lies are necessary to support the Odumbo Administration for the 2014 election, as well.