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Bernanke exits as Santa Claus for now

He made tapering palatable, but in the longer term it may be seen as too late

LIKE a Shakespearean hero, Ben Bernanke exited the world stage with a flourish that received an ovation from investors. By reducing the Federal Reserve's monthly bond purchases by US$10 billion a month, Mr Bernanke began the undoing of the extraordinary monetary stimulus measures that will