A stock trader sent this tidbit to me. It’s a quote from a research analyst:
It’s worth noting that central banks in the developed world pride themselves on preparing the markets for their actions so as not to cause excess volatility. The Fed has failed at this as their QE tapering communication has gone awry, causing markets to take a swoon. Bernanke’s chief job next week is to get control of the QE3 conversation and remind markets that the Fed will not do anything too hasty as it exits its massive stimulus programme.