U.S. stocks rose, sending benchmark indexes to all-time highs Wednesday, after the Federal Reserve said it will reduce the pace of its monthly bond purchases and expressed confidence in the labor market recovery.
Investors plowed money into stocks and bonds, with the S&P 500 and Dow Jones Industrial Average reaching record highs, after the Federal Reserve’s surprise decision to keep its economic stimulus in place.
On Wednesday, the Federal Reserve is expected to take its first step toward reducing the extraordinary stimulus it's supplied to help the U.S. economy rebound from its deepest crisis since the Great Depression.
Federal Reserve Chairman Ben Bernanke told a local lunch crowd that he expects the economy to keep growing, but he said the growth is so slow that it could create a "permanent group" of underemployed Americans.
In a speech in Indianapolis, Chairman Ben Bernanke offered a sharp defense Monday of the Federal Reserve's bold policies to stimulate the weak economy, while cautioning Congress to respect its private discussions.
The chairman of the Federal Reserve is scheduled to speak at the Economic Club of Indiana’s Oct. 1 meeting, an event that should put Indianapolis in the national spotlight given the Fed’s recent and controversial decision to try to stimulate the economy.
The Federal Reserve this week took steps to boost economic growth. But those stimulus measures are also pushing oil prices up. If gas prices follow, consumers will have less money to spend elsewhere.
Economic growth is pitiful. So why are the major stock indexes just a few percentage points shy of an all-time record? Start with two words: Ben Bernanke.
The Employment Act of 1946 essentially required the Federal Reserve to do two mutually exclusive things: promote full employment and keep inflation low.
As much as Federal Reserve Chairman Ben Bernanke would like to think he can pull in the reins at the right moment, the beast of inflation is difficult to control.