The stock market is up today, by almost 250 points the last time I looked. However, Ben Bernanke's is still reluctant to admit our economy is moving in a positive direction, or in any direction for that matter. The bailout plan was passed a few weeks ago and there is still no clear sign that our economy is heading in the right direction. The stock market has recovered from its 8,000 point low, but things are still very shaky. Stock prices are continuing to jump up and down at a moments notice.
Today Ben Bernanke expressed these concerns to congress. Bernanke addressed congress and pointed out that the country's weak economic condition could last for some time and that now was the time to add more stimuli into the market in order to ensure a speedy recovery. Although many republicans and Bernanke himself had opposed this idea at first, it seems that it is no longer an avoidable option. As a result, both Bernanke and President Bush are backing the new idea.
The only thing to do now is wait. Wait to see if congress will pass legislation or not.
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