The Clear Message From Bernanke's News Conference

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Sept. 18 (Bloomberg) -- Bloomberg's Peter Cook recaps Fed Chairman Ben Bernanke's news conference on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Along with his colleagues he will join us shortly.

First, let's go to peter cook who was in the room with the fed chairman moments ago.

Again, peter, a big surprise today.

A big surprise today.

Of fed chairman who said, listen, you did not listen to me closely enough.

It depends on the data.

The markets got out ahead of this.

It is the markets' fault.

That was the message we heard in that room right there.

He said, things have not changed all that much from june when we first talked about tapering.

"this is a precautionary step," he said at the end there an answer to my question.

He raised those concerns about fiscal policy as one of the factors out there.

They are just not confident enough to ease off on the stimulus.

It was a surprise for the markets, but it was not necessarily intended to be a surprise.

The market reaction is to loosen up those financial conditions a little bit more.

So he it.

It will help the economy.

-- so be it.

That is right.

Peter cook, thank you.

This text has been automatically generated. It may not be 100% accurate.

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