Investments

Markets go haywire after Fed announces QE tapering

Federal Reserve officials were clearly taken aback by the selloff that was unleashed in global financial markets when the central bank's chairman, Ben Bernanke, warned that the Fed's bond-buying program would likely be scaled back this year. 

But they can take an increasing level of comfort from having guided Wall Street to a view of future monetary policy that is closer to their own, and the sense that a messy adjustment now is much less harmful than a more violent turn later.

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