The bond market is calls the shots on long-term rates, not the FED.
Bernanke is jawboning because the bond market is pushing yields up. He has to follow that market or get slaughtered.
He has no choice.
He most certainly does. He just doesn't like it.
It would ruin his reputation amongst the DC and NY elites and it would run counter to his precious theories on the Great Depression which are already pretty threadbare.
The bond market is toast. Don’t move money on a dive folks, it’s financial suicide.