Bernanke's economy comment batters market ('unusually uncertain' prospects rattle investors)

Reuters on Yahoo ^ | 7/21/10 | Rodrigo Campos

[NormsRevenge]

NEW YORK (Reuters) – Federal Reserve Chairman Ben Bernanke's dour assessment of the U.S. recovery hit stocks on Wednesday, as his comment that the economy faced "unusually uncertain" prospects rattled investors.

Stocks tumbled after Bernanke acknowledged the labor market's continued weakness while offering few specific options to stimulate lending and investment.

"The market sold off because unfortunately there is no remedy provided in Bernanke's commentary to the rising threat of deflation, the excess capacity in the economy and the malfunctioning of the credit system," said Joe Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania.

"We are now giving up on the notion of a standard recovery in the U.S. economy."

[NormsRevenge]

uhhmmm

"We are now giving up on the notion of a standard recovery Recovery Summer in the U.S. economy."

Thank You, Ben.. Wunnerful Wunnerful. (/lawrence welk)

[NormsRevenge]

The Reign of Obama

Strange 'Unusually Uncertain' Times indeed.

[Spok]

Now it’s Obama’s economy, as his war of terror on business bears fruit.

[silverleaf]

a rational lack of exuberance

[proxy_user]

So no one suspected anything of the sort until Bernanke spoke?

[BobP]

..."We are now giving up on the notion of a standard recovery Recovery Summer in the U.S. economy."

Thank You, Ben.. Wunnerful Wunnerful. (/lawrence welk)

When the economy realizes some growth again, those waiting to get rehired as managers and engineers start to find they have to work two jobs as cashiers and janitors. These liberals are going to friggin' sing and dance along, all the way, as they dance off a cliff.

WAKE UP AMERICA!

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[been_lurking]

What a pant load of crap!

Stocks fell because the One signed the financial reform bill.

More media spin to cover for a failed presidency.

[bubman]

Can’t agree with you there. I was glued to my quote screen all day and when Bernanke spoke the markets sold off. The financial reform bill was already priced into the market. Buy GS!!

[central_va]

You can count on the Green Shoots™ brand for all your economic recovery needs.

This message was approved by Allen Greenspan.