Jackson Hole is the 'QE' Capital of the World
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The bond king Bill Gross may have just answered the question on everyone's mind - "Will There Be QE3?"
In a quick-hitting but powerful tweet, Mr. Gross said Fed Chairman Ben Bernanke will likely hint about QE3 and interest rate caps at the Jackson Hole meeting in August.
Jackson Hole was the same event where Mr. Bernanke first explained the now soon-expiring $600 billion bond buying program, or QE2.
Each year Jackson Hole, Wyoming hosts the annual Federal Reserve Bank of Kansas City Economic Symposium. Last year the event was held from August 26 - 28. Bernanke gave his speech on August 27. This date of year's event has not yet been scheduled.
Today the market will get the Fed’s latest decision on interest rates, but more importantly the market will be looking for any indication the Fed is reconsidering its exit strategy and looking at further easing options.
The Fed’s decision will be out at 12:30PM ET followed by a Ben Bernanke conference call at 2:15PM ET.
Now onto the next question - "what will QE3 look like?"
In a quick-hitting but powerful tweet, Mr. Gross said Fed Chairman Ben Bernanke will likely hint about QE3 and interest rate caps at the Jackson Hole meeting in August.
Jackson Hole was the same event where Mr. Bernanke first explained the now soon-expiring $600 billion bond buying program, or QE2.
Each year Jackson Hole, Wyoming hosts the annual Federal Reserve Bank of Kansas City Economic Symposium. Last year the event was held from August 26 - 28. Bernanke gave his speech on August 27. This date of year's event has not yet been scheduled.
Today the market will get the Fed’s latest decision on interest rates, but more importantly the market will be looking for any indication the Fed is reconsidering its exit strategy and looking at further easing options.
The Fed’s decision will be out at 12:30PM ET followed by a Ben Bernanke conference call at 2:15PM ET.
Now onto the next question - "what will QE3 look like?"
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