Bernanke Comments Cause Market to Dip

The market sold off on comments from Bernanke just now. I thought the comments were constructive, but the market is still looking for a reason to sell off further.

Here is a summary of his comments:

• Further Fed action dependant on inflation outlook
• Q4 GDP growth likely in-line with Q2, Q3
• Econ. slowdown reflects cooler housing
• Slow home construction pace likely to be drag next year
• US core inflation remains "uncomfortably high", but likely to moderate
• Most other parts of economy growing solidly