Bernanke has told us that the European crisis will get resolved and it will only have a modest effect on the US economy.
At noon, the DOW is up over 100 points, so Bernanke's words have an immediate impact.
Don't let your guard down. We are walking through a minefield.
CNN: Stocks surge on Bernanke's optimism
"The actions taken by European leaders represent a firm commitment to resolve the prevailing stresses and restore market confidence and stability," Bernanke said, testifying before the House Budget Committee. "If markets continue to stabilize, then the effects of the crisis on economic growth in the United States seem likely to be modest."
1 comment:
Bernake's word is worthless. When has he ever been right about anything? I sell on his buy calls.
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