Ben Bernanke Latest News: Dow, S&P 500 Set New Closing Highs

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Ben Bernanke Latest News: Dow, S&P 500 Set New Closing Highs

Ben Bernanke Latest News: Dow, S&P 500 Set New Closing Highs
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Ben Bernanke Latest News: Dow, S&P 500 Set New Closing Highs

Wochit 1:05 mins

Both the Dow and the S&P 500 set new closing highs in the wake of Ben Bernanke's latest remarks. The indexes soared over 1% following the Fed chair's comments on quantitative easing. The U.S. central bank's disclosure on June 19 of a rough route map for phasing out its unprecedented program of bond buying by the middle of 2014 drew a fiery reaction from global markets. Clearly startled, Bernanke and his fellow policymakers have been trying ever since to placate the monsters they awakened. That raises the question what they could have done differently to convey their message that a gradual end to asset purchases did not portend a prompt rise in borrowing costs. Stocks broke through record highs in early trading after Federal Reserve Chairman Ben Bernanke said the central bank is in no hurry to stop supporting the economy.

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