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US stocks rally on Bernanke testimony

Agence France-PresseMay 22, 2013 10:45
US stocks Wednesday jumped higher as Federal Reserve Chairman Ben Bernanke warned against tightening monetary policy too quickly in a statement to Congress. About 40 minutes into trade, the Dow Jones Industrial Average rose 97.91 (0.64 percent) to 15,485.49 The broad-based S&P 500 added 11.51 (0.69 percent) at 1,680.67, while the tech-rich Nasdaq Composite Index increased 20.91 (0.60 percent) to 3,523.03.

TSX up slightly, Wall Street falls amid talk of possible end to Fed stimulus

The Canadian PressMay 22, 2013 09:17
TORONTO - North American markets were mixed Wednesday after U.S. Federal Reserve chairman Ben Bernanke said the central bank has considered ending its extraordinary stimulus program, but added that it is too soon to do it now. Indexes in Toronto and the U.S. initially surged on news that the Fed had no immediate plans to turn the tap off on its $85-billion-a-month bond buyback program. But by the end of the day, the S On Wall Street, the Dow Jones industrials index was down 80.41 points at 15,307.17. The S

Asian stock markets rise after Fed official says US should maintain easy monetary policy

The Canadian PressMay 22, 2013 01:15
BANGKOK - Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. Regional Fed chief James Bullard said in a speech Tuesday that the Fed should continue its monthly $85 billion in bond purchases, which drives down interest rates and thus encourages lending and spending, to help spur the U.S. economic recovery.

Too soon to dial back Fed stimulus: Dudley

May 21, 2013 17:15
(Reuters) - It is too soon to determine whether to dial down the Federal Reserve's massive bond-buying program, and the economic picture may not be clear enough to make that decision for another three or four months, an influential U.S. central bank official said.

US stocks dip in cautious trade

Agence France-PresseMay 20, 2013 19:15
US stocks closed slightly lower in thin trade Monday ahead of Federal Reserve Chairman Ben Bernanke's testimony on the economic outlook to Congress. At the closing bell, the Dow Jones Industrial Average was down 18.35 points (0.12 percent) at 15,336.05. The tech-rich Nasdaq Composite Index edged down 2.53 (0.07 percent) to 3,496.43 and the broad-market S&P 500 lost 1.21 (0.07 percent) at 1,666.26. The leading indices drifted in mixed fashion around the unchanged mark for much of the day, after surging to new record-high closes Friday.

Bernanke says computer revolution likely to provide various future gains to economic growth

The Canadian PressMay 18, 2013 16:45
WASHINGTON - Federal Reserve Chairman Ben Bernanke says pessimists forecasting that the economy will not reap sizable benefits from the computer revolution are likely to be proven wrong. Bernanke told a college graduating class Saturday that the long-range practical consequences of innovations such as faster computers and the Internet are hard to predict. But he said inventors have only scratched the surface of the commercial applications that can be obtained in such fields as medicine and clean energy.

Bernanke says computer revolution likely to provide various future gains to economic growth

The Canadian PressMay 18, 2013 11:45
WASHINGTON - Federal Reserve Chairman Ben Bernanke says pessimists forecasting that the economy will not reap sizable benefits from the computer revolution are likely to be proven wrong. Bernanke told a college graduating class Saturday that the long-range practical consequences of innovations such as faster computers and the Internet are hard to predict. But he said inventors have only scratched the surface of the commercial applications that can be obtained in such fields as medicine and clean energy.

Bernanke to speak on economy to Congress on May 22

May 13, 2013 14:15
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke will deliver testimony on May 22 on the outlook for the U.S. economy before the Joint Economic Committee of Congress, according to an announcement on the website of committee chairwoman Amy Klobuchar. Bernanke's appearance will come as markets, weighing recent mixed indications on the strength of the U.S. economy, focus on the likely duration of continued bond purchases by the U.S. central bank to spur growth and hiring. (Reporting By Alister Bull)

Bernanke: US economy 'still far' from desired state

April 8, 2013 19:45
Federal Reserve Chairman Ben Bernanke said Monday that the US economy still has far to go to recover to an acceptable state of health. "Today the economy is significantly stronger than it was four years ago, although conditions are clearly still far from where we would all like them to be," he said in a speech on banking in Georgia. mj/pmh/adm

Bernanke: Cyprus crisis not a major risk to US

March 20, 2013 17:31
US central bank chief Ben Bernanke said Wednesday that the Federal Reserve was keeping an eye on the Cyprus crisis but that it was not so far seen as a danger for the United States. "We are monitoring very carefully, but at this point we are not seeing a major risk to the US financial system or the US economy," the Federal Reserve chairman told a press conference. He said if potential bank runs in Cyprus -- where the banks remain closed until next week -- spread to other countries, it could pose a problem, but there is no evidence yet of that.
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