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Stocks fall after Bernanke dims stimulus hopes

Published 07/15/2011, The Jamestown Sun

NEW YORK — Remarks by Federal Reserve Chairman Ben Bernanke that dimmed hopes for a third round of bond-buying pushed stocks lower Thursday. In a second day of testimony, Bernanke told lawmakers the Fed expects the economy to improve. He said the central bank would only step in with more economic stimulus if there is a significant downturn in the economy. “We’re not prepared at this point to take further action,” Bernanke said. Stocks turned immediately lower after the remarks and fell for much of the day.

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