Global shares, euro rise after Bernanke speech |
| Reuters Canada - Aug 31, 2012 |
Stocks and the euro rose on Friday after Federal Reserve Chairman Ben Bernanke kept the door open for future monetary easing, although he did not deliver a clear signal of imminent action that markets had hoped for in a much-anticipated speech.
The euro and European shares rose as signs emerged of progress toward a deal to tackle the euro zone's debt crisis.
Bernanke told central bankers in Jackson Hole, Wyoming, that progress in bringing down U.S. unemployment was too slow and that the central bank would act as needed to strengthen the economic recovery.
But investors focused on what he had to say about monetary policy and the stagnation in the U.S. labor market, which he described as "of grave concern."
Read Full Article from Reuters Canada
- Posted: 2012-08-31 13:51:27
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