Today, the main story was the address that Chairman Bernanke delivered to the National Press Club as his topic was the, “The Economic Outlook and Macroeconomic Policy.” The FED Chairman’s speech was a “redo” of Mervyn King’s speech 10 days ago. It seems that the FED is adhering to the same view as the BOE, in that the FED will stay the course on QE and its present monetary policy. Inflation is not a problem even though some highly visible price increases have taken place in some commodities but that is due to the growing demand from the emerging economies. Core inflation was “only 0.7 percent in 2010” and wage growth is non-existent, so there is no worry on the inflation front.