Federal Reserve Latest News: Stocks Rise After Bernanke Allays Stimulus Fear

Wochit 0:46 mins

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. The average U.S. rate on a 30-year fixed mortgage rose this week to 4.51 percent, a two-year high. Rates have been rising on expectations that the Federal Reserve will slow its bond purchases this year. Stocks rose after comments by the Federal Reserve chairman, Ben S. Bernanke, indicated the central bank was unlikely to scale back its stimulus measures earlier than expected.

View Comments