Stocks rose in afternoon trading Friday after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth.
The Fed has already pledged to keep short-term interest rates low until mid-2013. Low rates make higher-risk bets such as stocks more attractive. At last year's conference in Jackson Hole Bernanke signaled that the central bank would buy more government bonds to lower long-term interest rates. Stocks rose steadily during the period when the Fed bought up $600 billion of Treasurys.
Quote from Bob111:
Stocks recover after Bernanke predicts US growth
http://news.yahoo.com/stocks-recover-bernanke-predicts-us-growth-153113531.html
i have problem undestanding this guy and market today..
i guess 1% GDP growth is awesome!
Quote from Wolfgang1756:
What time today will Ben Bernanke announce his intentions today from Jackson Hole?
Quote from Bob111:
Stocks recover after Bernanke predicts US growth
http://news.yahoo.com/stocks-recover-bernanke-predicts-us-growth-153113531.html
i have problem undestanding this guy and market today..
i guess 1% GDP growth is awesome!
Quote from Rickshaw Man:
Make no mistake that these events are planned around option exp. The time of his speech is suspect. All the major wall street banks know exactly what to expect. As far as the rest of us you take your chances. Me I just watch from the sidelines.
