Only thing worse for the markets than an Obama speech is a Bernanke speech. Looks like the welfare state magician is out of tricks. – BBC

From BBC News

EXCERPTS:

Global shares have fallen sharply after the Federal Reserve gave a stark warning about the state of the US economy and announced limited measures designed to boost growth.

The Fed warned of “significant downside risks” as it announced a bond swap programme designed to keep long-term interest rates low.

It also unveiled a stimulus plan – dubbed Operation Twist – designed to help stimulate the flagging US economy.

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