Bernanke: Fed Could Unleash More QE If We Go Over The Fiscal Cliff

In his post-FOMC press conference, Fed Chairman Ben Bernanke defended his policy of open-ended asset purchases, dubbed QE4, and explained the benefits of their new, outcome-based guidance.  Bernanke also said he’d be glad to “wave a magic wand and get unemployment down to 5%,” but told reporters the Fed’s policy tool kit is limited, adding they don’t “have the tools to offset” the fiscal cliff.  Bernanke also avoided questions about his future a...