As for the market's latest sugar rush ramp

Today's sugar high comes from Boston Fed President, Eric Rosengren gave an interview which is nearly perfectly timed with the market ramp, Here are some excerpts:

-Crisis might warrant coordinated action by the Fed and ECB
-Fed Shouldn't be disuaded from trying to help
-There are clear stresses in short term credit markets (circa 2008)
-The economy is not creating "As many jobs as I'd like"
-GDP growth is "Not what I'd like to see"
-"The economy should be picking up if there are no further shocks" (or, the economy should pick up if the EU is magically transformed in to a global growth engine overnight and does not see any EU or bank defaults)
-the central bank still has power to boost the economy through lower interest rates.
-“The common misconception is that rates are already low so further monetary policy actions will have no impact on the economy.  In fact, statistical analysis suggests the opposite.” (That would be based on the massive improvement since ZIRP?)
-"Even small easing steps can be worthwhile when the economy is so badly damaged" (This is sounding a bit contradictory)
-“While the scale of the problem is great, that should not dissuade us from actions that make even just ‘a dent,’” he said. “For instance, an action that reduces the unemployment rate by half a percent does not bring us close to full employment, and does not solve the country’s problems, but nonetheless would perhaps create roughly 750,000 jobs that may not have been created in the absence of the action.”