Bad News Bernanke: The Return
Posted on Feb 29, 2012
Everyone’s gotten a little worked up lately because the Dow hit the 13,000 mark a couple of times, but here comes Fed chief Ben Bernanke to hit us with the reality stick, or at least give our knuckles a bit of a rap, in an economic update delivered to Congress on Wednesday. —KA
Stocks struggled for direction Wednesday as Bernanke dashed hopes for further monetary stimulus and as traders shrugged off the Fed’s latest report that showed the economy grew at a “modest to moderate” pace in the last two months.
The Dow Jones Industrial Average struggled to move back into positive territory, after finishing above the psychologically-important 13,000 level in the previous session for the first time since May 2008.
Wikimedia Commons / U.S. Federal Reserve