The broad index retreated from earlier gains, although the
Dow Jones Industrial Average
Speaking at the Economic Club of Indiana in Indianapolis, Bernanke said that "so long as price stability is preserved, we will take care not to raise rates prematurely. Specifically, we expect that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economy strengthens."
While saying that economic uncertainty in Europe "is now part of the problem -- feeding into our financial variables," Bernanke said he was "confident Europeans will rise to the challenge."
The KBW Bank Index (I:BKX) rose slightly to close at 49.71, with 13 of the 14 index components rising for the session.
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