Amazing what a little talking can do! Federal Reserve chaiman Ben Bernanke addressed a conference on monetary policy on Friday in Jackson Hole, Wyo., saying that the central bank would act as necessary to strengthen America’s economic recovery, leaving the door open for future monetary easing. Soon after, both European stocks and the euro began rising as signs emerged of a deal to manage the euro-zone crisis. On the American side, the dollar dropped to an eight-week low after Bernanke characterized high unemployment as a "grave concern," reinforcing expectations of more growth-encouraging stimulus.
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