from Bernanke's Minnesota speech: "Unusual weakness" in household spending is countered a bit by business. Price pressures before came from "transitory influences" and inflation is expected to moderate in coming quarters to at or below 2%. Fed has a range of tools and it "will continue to consider those... at our meeting in September."
The market is selling off as these comments are released. Dow is now down 93 points. Obviously the market does not want QE3 or anything like it.
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