Stocks Surge as Bernanke Could Reassure Market That Short-Term Rates to Remain Ultra Low
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The stock market kicked into overdrive to end the session Thursday as investors turned their attention to a new Jon Hilsenrath article: Fed Likely to Push Back on Market Expectations of Rate Increase
The article by the most in-the-know Fed writer hinted that the Fed will not do anything anytime soon to raise short-term interest rates despite market fears to the contrary.
From the article:
"It's a point Chairman Ben Bernanke has sought to emphasize before. The Fed, he said in his March press conference and again at testimony to Congress last month, expects a "considerable" amount of time to pass between ending the bond-buying program and raising short-term rates.
He seems likely to press that point at his press conference next week, given that the markets are telling him they don't believe it."
Stocks closed at the highs. The Dow ended up 181 to 15,176, the S&P 500 added 24 to 1,636, and the Nasdaq ended up 45 points to 3,445.
The article by the most in-the-know Fed writer hinted that the Fed will not do anything anytime soon to raise short-term interest rates despite market fears to the contrary.
From the article:
"It's a point Chairman Ben Bernanke has sought to emphasize before. The Fed, he said in his March press conference and again at testimony to Congress last month, expects a "considerable" amount of time to pass between ending the bond-buying program and raising short-term rates.
He seems likely to press that point at his press conference next week, given that the markets are telling him they don't believe it."
Stocks closed at the highs. The Dow ended up 181 to 15,176, the S&P 500 added 24 to 1,636, and the Nasdaq ended up 45 points to 3,445.
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