Bernanke gave more testimony on Wednesday emphasizing and defending all Fed policies. He successfully parried all questions about QE and ZIRP risks and made no mention of any policy exit dates. Bulls translation, the printing press will be on “auto” to infinity.
Interesting testimony tidbits were:
“Fed could go some time without sending profits to Treasury,” (Fed is allowed to be a deadbeat).
“Savers will benefit with economic recovery; savers won't get strong returns in a weak economy,” (So not in my lifetime?).