One Step Back from the Abyss

Ben Bernanke — in a first-ever Fed press conference — says that QE2 will end on schedule in June. I have never been quite so happy to be wrong, as I thought there was a better-than-even chance of the Fed launching QE3 this summer. We might even see some relief from rising prices on oil, gold, and other commodities.

That’s the good news. The bad news is, what might happen to the Dow now that the days of easy money are half-over.