HUGGY
I Post Because I Care
Stocks fall as Fed chief disappoints on stimulus - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports
MILAN (AP) - World stock markets dropped Friday after the U.S. Federal Reserve chairman disappointed investors that there would no immediate action to jump start the world's largest economy, wiping out any gains from China's surprise interest rate cut.
In an appearance before members of the U.S. Congress, Ben Bernanke avoided giving any signals about what the Fed might do in response to a slowdown in hiring. The 69,000 jobs created in May were the fewest in a year. And China made its first interest rate cut in more than three years, but not enough to excite market interest.
Markets, instead of reacting to the cut, were also bracing for the possibility of glum economic data from China over the weekend.
Knee jerk reaction to monthly employment figures is idiotic.
Do you really want the fed to establish a pattern of over reaction every time there is ripple in the world economy?
Dude did you miss the point of the thread?
The markets are calling for stimulus to calm them and to get them investing again.
That is what the article says.
Now If the right is sooooo devoted to the market that they want the market to make our decisions then they should be FOR more stimulus.
But on this occasion they are against what the market is crying our for.
WHY?
because they dont care about the free market nay more than they care about the constitution.
those are just talking points from the ONLY thing they do care about.
the republican party.
This is just more proof they are full of shit and lies
"markets" don't run our economy. Repubs "full of shit" is a seperate issue.