In the wake of the European melt-down in progress thanks to the botched Russian bank heist in Cyprus, the Fed will likely not to be able to afford the luxury of spewing any more MOPE propaganda about QE Fexit in today’s FOMC release (almost an afterthought with the events of the week thus far), but as is tradition here at SD, ahead of Bernanke’s public appearance-
PUNT THE BERNANK!

QE∞ is now QE∞er, and QE4 is official as the Fed announces $45 billion in NEW unsterilized monthly treasury bond purchases, exactly as expected by the market.

  • FED INCREASES QE WITH $45 BILLION IN NEW MONTHLY TREASURY PURCHASES
  • FED TO CONTINUE MORTGAGE BONDS PURCHASES AT $40 BILLION PER MONTH
  • OPERATION TWIST EXPANDED INTO UNSTERILIZED BOND MONETIZATION
  • MONTHLY PURCHASES TO TOTAL $85 BILLION
  • FED: RATES TO STAY EXCEPTIONALLY LOW WITH JOBLESS ABOVE 6.5%
  • Gold and silver popping

Full FOMC statement below:  and Click here to watch Bernanke’s Press Conference on QE4 LIVE at 2:15pm EST: