Republished from Dr. Ed Yardeni’s blog: “Dr. Ed’s Blog”
Last week late in the day on Wednesday, Fed Chairman Ben Bernanke answered several questions from the audience after presenting a speech. His response to one of them sent stock prices soaring on Thursday: “Highly accommodative monetary policy for the foreseeable future is what’s needed in the US economy.” The S&P 500 rose 1.4% on Thursday, and 3.0% last week. It is now up 6.8% since the recent low on June …