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JUN 28, 2013 - Zero Hedge

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Fed's Jeremy Stein Full Speech

The first of three Fed speeches is out, and as expected, it contains nothing new save for the ongoing barage of stock market battering for daring to sell on last week's Bernanke warnings that the Fed's monthly flow is set to begin tapering in September. It continues to be as if the Fed is shocked to learn that nothing else matters in this "economy" and, of course, "market" than what the Fed will do and say. Here is the highlight paragraph: ... it often doesn't make sense to try to explain a large movement in asset prices by looking for a correspondingly large change in expectations about ... Read More

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