NEW YORK ( TheStreet) - Last Wednesday, Federal Reserve Chairman Ben Bernanke gave the markets the clarification they were looking for; the content of the speech, however, went against expectations. Bernanke stated that the Fed will gradually ease out of its bond-buying program, which would eventually lead to raising rates as soon as 2015.Markets must now learn to operate in an environment absent the "Bernanke Put," a term describing the policy enacted by the Federal Reserve to provide downside protection for markets.
Global Macro: Rising Treasury Rates an Overreaction to Fed
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