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Disappointment Bernanke: No New Stimulus Alex Brandon / AP Photo

Bernanke: No New Stimulus

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.

August 26, 2011 10:20 AM