FOMC Meeting November 2011 - Bernanke Keeps Interest Rates Low (LIVE)

http://www.StockMarketFunding.com FOMC Meeting November 2011 - Bernanke Keeps Interest Rates Low (LIVE) testimony of Ben Bernanke's statements on the US Economy. The Federal Reserve noted that they plan to keep lending rates at low levels for the forseable futures.

Stocks remained elevated with the Dow Jones up 158 points to 11,815. The S&P 500 was up 16.02 points to 1,234.3. There were no real knee-jerk reactions to Bernanke's statements and most of the message was consistant with what the market was looking for.

After moving sharply higher at the open, stocks have continued to perform well over the course of the trading day on Wednesday. The markets are recovering from the sell-off seen over the two previous sessions on the heels of some relatively upbeat employment data.
The major averages have pulled back off their best levels of the day in recent trading but continue to post strong gains. The Dow is up 192.57 points or 1.7 percent at 11,850.53, the Nasdaq is up 32.70 points or 1.3 percent at 2,639.66 and the S&P 500 is up 21.01 points or 1.7 percent at 1,239.29.
The strength on Wall Street is partly due to a positive reaction to a report from payroll process ADP showing a slightly bigger than expected increase in private sector employment in October.
The report said private sector employment increased by 110,000 jobs in October following an upwardly revised increase of 116,000 jobs in September. Economists had expected employment to increase by about 100,000 jobs compared to the addition of 91,000 jobs originally reported for the previous month.
While the job growth exceeded economist estimates, ADP noted that the recent moderate pace of private sector job creation is probably below a pace consistent with a stable unemployment rate.

Tags "economy" "us economy" "us economy nov 2011" "smf street" "unemployment" "united states economy" "usa economy" "united states unemployment" inflation "stock market" "recession" "us savings rate" "unemployment benefits" "unemployment rate 2011" "personal savings"

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[BLynchCAN]

Whenever did the FR Bank have a mandate on prices and employment. Did I miss somthing the last fifty years?

[StockMarketFunding]

@BLynchCAN it was founded that way "Open market operations allow the Federal Reserve to increase or decrease the amount of money in the banking system as necessary to balance the Federal Reserve's dual mandates"

[DirectAccessTrading]

Did he say "mandate to maximize unemployment" lol

[StockMarketFunding]

@DirectAccessTrading thanks for tuning in!

[BLynchCAN]

@StockMarketFunding For real? Thanks. Got to look more into that.

[SuperScoobydoo777]

BOLLOCKS!

[tyronebiggums3]

at 6:45, inflation "averaged 2%"

I feel better. This confirms that I was just imagining much higher prices with smaller container sizes.

LOL

[BLynchCAN]

"Interest of the broad public", "job creation". What on this planet is bernanke yappong about. The FR bank has nothing to do with people and everything to do with money. Correct me if I'm wrong but it is still a bank. ?