Federal Reserve

Ben Bernanke Promises Continued Fed Stimulus

Global stock markets happy


Global stocks rose Thursday after Federal Reserve chairman Ben Bernanke promised to keep supporting the U.S. economy.

Bernanke said the U.S. needs "highly accommodative monetary policy" — or low interest rates — "for the foreseeable future." That reassured investors who were dismayed by Bernanke's comments last month that the Fed would likely slow its bond purchases later this year and end them around mid-2014 if the economy strengthens. Critics said the Fed bungled its communications strategy.