Disappointment

Bernanke: No New Stimulus

Alex Brandon / AP Photo

Federal Reserve Chairman Ben Bernanke gives the Semiannual Monetary Policy Report to Congress while testifying on Capitol Hill in Washington, March 1, 2011, before the Senate Banking Committee.

Federal Reserve Chairman Ben Bernanke said Friday the central bank stands ready to provide further support to a weak economy, but didn't offer any plan on a new stimulus. In an anticipated speech in Jackson Hole, Wyoming, Bernanke said the economy is recovering and the nation’s long-term prospects remained strong, but the Dow opened nearly 100 points lower while European shares and the dollar fell on Friday in anticipation of the lack of a new stimulus. Bernanke initiated a bond-buying program at last year’s conference that is credited for supporting stocks earlier this year.