Wednesday, July 17, 2013

Ben Bernanke to Address the Fed's Plan to Continue its Massive Bond -Buying Program - Comments expected to impact ability to get a loan

federal reserve chairman ben bernanke economy congress testimony stimulus
Federal Reserve Chairman Ben Bernanke

It's all about Ben Bernanke today. 

The Dow Industrials (^DJI) fell 32 points Tuesday, the Nasdaq (^IXIC) lost 9 and the S&P 500 (^GPSC) dropped 6, snapping an eight-session win streak.

Investors will focus Wednesday on the congressional testimony of Fed Chairman Ben Bernanke -- and consumers should, too. Analysts will be parsing every word for clues about how quickly the Fed will begin cutting back on its massive bond-buying program.

The decision will affect stocks, Treasury bonds, the effort to bring down unemployment, and your ability to get a loan. His testimony will overshadow the Fed's Beige Book report on regional economic activity, due out this afternoon.

Provided by Donna Antonucci
Prudential Castle Point Realty