Bernanke: Hopes government will be out of financial markets in 4-5 years

The Fed chief said the timing is uncertain but he hopes the government will be out of the financial markets in 4-5 years. Many of the Fed’s programs are short-term in nature, like commercial paper, and can be wound down quickly, he said.

EUR/USD is consolidating around 1.4200 with related markets like stocks and commodities stabilizing at lower levels.