TAX CUTS MEAN BERNANKE SHOULD STOP QE2
The announcement has already succeeded in dropping US bonds and boosting stock prices. Stopping it would calm plenty a frayed nerve and decrease inflation fears. Let us not forget, QE2 failed to either lower mortgage rates (they have actually increased since it began) or decrease the value of dollar which depends more on events abroad than Fed actions.
So, crediting the tax cuts for the policy reversal, can provide the Fed with an elegant way to end a failed experiment.
Update: Alas, the failure of QE2 apparently does not seem to make Bernanke relent.
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