Well in 1937 the Fed and Congress thought it a good idea to turn hawkish and reign in things. The end result was to create a recession in a depression. Bernanke, being a student of the Depression years understands the ramifications. The media, however, lacks any real news so they need to use "to taper or not to taper" as an explanation for momentary stock movements. Basically the market is doing what I had hoped it would, mainly consolidating and moving sideways until the next leg up. See: http://caps.fool.com/Blogs/sell-in-may/822739.
Bernanke is NOT raising rates any time soon. IGNORE anyone from the media who suggests otherwise. They either have a hidden agenda or are clueless. Whether he seeks another term is unknown. But it will be either him or Yellin. And either scenario means continued accommodation until at least the growth stats really are sustainable.