Ben Bernanke Legacy
With exactly one week to go before the next FOMC announcement, the two most important considerations for the Federal Reserve should be the outlook for the economy and the potential reaction in the financial markets. However there is one additional factor that could affect their decision to taper or not taper before the end of the year and that is Bernanke’s legacy. There is no question in our minds that the man who has served as the head of the U.S. central bank for the past 7 years is thinking about whether he wants to end his legacy being known as the person who halted the Santa Claus rally or worse, the Grinch who stole Christmas.
With exactly one week to go before the next FOMC announcement, the two most important considerations for the Federal Reserve should be the outlook for the economy and the potential reaction in the financial markets. However there is one additional factor that could affect their decision to taper or not taper before the end of the year and that is Bernanke’s legacy. There is no question in our minds that the man who has served as the head of the U.S. central bank for the past 7 years is thinking about whether he wants to end his legacy being known as the person who halted the Santa Claus rally or worse, the Grinch who stole Christmas.