The Dow closed down 54 points, the S&P 500 lost 9 points, and the Nasdaq fell 34 points after Bernanke said the Fed has no immediate plans to institute a third round of quantitative easing
How many ways are there to resolve the debt ceiling crisis? Negotiators meeting at the White House seem to hit one impasse after another, and frustration on both sides is mounting as an Aug. 2 deadline looms to avoid default on America’s debt obligations. Still, at least five options for handling the matter have been discussed in recent days and months. Other possible solutions may well emerge, but here’s the state of play on the options to date.
The Dow rose 45 points, the S&P 500 gained 4.1 points, and the Nasdaq closed 15 points higher after Ben Bernanke announced that the Fed would be open to the possibility of additional stimulus
Ben Bernanke said on Capitol Hill Wednesday, the pace of the US economy 'will pick up in coming quarters.' But the unemployment rate will decline slowly, he said, citing 'headwinds.'
American exposure to the Greece crisis is high in certain areas. Half the assets in the 10 biggest money market funds are invested in European banks, which hold a lot of Greece's debt.
The world clawed its way off a financial precipice two years ago, says a new report, but major nations still have to do some important work to put the global economy on a sound footing.
Crude oil moved above $91 a barrel Friday, a day after the International Energy Agency announced it would release 60 million barrels of crude oil from reserves.
Energy Secretary Stephen Chu cites crude oil disruptions in Libya and elsewhere as reason to open the Strategic Petroleum Reserve now. Gas prices, however, have been falling in recent weeks.
Federal Reserve Chairman Ben Bernanke says that even if Greece defaults, a prospect that has roiled US financial markets for weeks, the impact on US banks would be 'very small.'
Ben Bernanke, head of the Federal Reserve, suggested Wednesday that lawmakers should instead focus on cutting the deficit over the medium to long term, in light of the slow recovery.