Bernanke said the Fed could begin winding down its bond-buying program at one of its “next few meetings” if the economy continues to improve, but warned that a step down won’t mean the Fed has started a one-way march to the exit. You can read the article here.

Fed Chairman Ben Bernanke said the Fed may not continue buying (yes, that includes $1 trillion in GSE MBSs), sending prices on long term interest rates, that we have not seen since last summer.

Bottom line: This is the starting gun for the race to a much more volatile interest rate market

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