QE-Addicted Markets Rally On Minutes, But Fed Will Focus On Jobs And Unemployment

Fed Chairman Ben Bernanke squeezed the shorts a bit on Wednesday, with the latest FOMC minutes signaling further monetary action, or QE3, could come fairly soon, which in turn sparked a risk asset rally.  While the Fed acknowledged that the fiscal cliff, the European sovereign debt crisis, and the global slowdown remain major risks, it is raw data that will push the FOMC to action.  The most important of which will be the August jobs report, as Doug Roberts of Channel Capital Research explained.

http://www.forbes.com/sites/afontevecchia/2012/08/22/forget-the-fed-minutes-qe3-depends-on-the-unemployment-rate/