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Good evening I'm Chris Wallace sends a -- -- investors and traders on Wall Street are breathing a sigh of relief tonight.
Thanks to a bright from two -- sell off days in the financial markets chief White House correspondent Ed Henry reports that there is one man who remains on the hot seat.
It's Federal Reserve Chairman Ben Bernanke.
After two days of market meltdowns in high.
-- -- about 401.
The last thing President Obama or his aides wanted to do today was try and decipher the words of Fed Chairman Ben Bernanke I was away -- sorting out what -- Here but I have to say about the markets and the Fed Chairman and fed policy.
Have nothing to say.
Probably Smart because the market settled today with modest gains for the Dow and the S&P 500 and a small drop for NASDAQ after a two day global sell off.
For stocks bonds and commodities sparked by a massive credit crunch in China and -- refusal by its Communist leaders to intervene by pumping cash.
Cash into the system.
Coupled with Bernanke's Wednesday commented that the Fed may start pulling back on its massive bond buying that is pumped life into the US economy.
What he's doing as a lot like monetary drunk driving I think he's jerking the wheel back and forth in the market doesn't know what to make of it others sharply disagree noting Bernanke's message was actually upbeat.
And as interest rates start to rise.
Potential buyers are getting off the sidelines and further boosting an already improving housing markets -- committee sees the economy continuing to grow at a moderate pace if that continues it's really knows how.
The Fed will naturally pull back on stimulus.
We always knew that that was going to be the case so to see such a rational volatility based on.
What for -- was a very expected response from the Fed is just irrational behavior on the part of the market's irrational markets.
-- dangerous addition to the mix for a lame duck president who is already seen his second term.
Dominated by controversies.
From the IRS targeting of conservatives to Justice Department monitoring of reporters.
With Syria and NSA surveillance also -- in time and attention.
Jay Carney had to hedge when he tried to claim today the economy is the president's most important focus.
But the president's number one priority.
In addition to making sure that he's doing everything he can to protect the American people and and our national security interest -- is the economy in economic growth and the middle class.
The Vice President Biden is out with a bold prediction about the economy tonight he just told the US conference of mayors in Las Vegas quote.
This country's ready to get up.
And -- Chris Ed Henry live at the White House Ed thanks for -- --
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