Jeez Louise!
Hope and change also need to be spiffed up with upbeat language.
Mr. President: Please don't talk down the economy!
When Obama spreads fear and chaos and catastrophe, the market goes from 9700 to 7100
When Bernanke stays positive for one speech, the stock market comes back 250 points
NEW YORK – Federal Reserve Chairman Ben Bernanke have given Wall Street a double dose of reassurance.
Bernanke told Congress Monday that the recession might end this year, and that regulators aren't planning to nationalize banks. The news alleviated some of investors' deepening worries about the economy and the banking system, and the Dow Jones industrial average, coming off its lowest levels since 1997, jumped about 250 points, or 3.5 percent. Other major stock indexes rose about 4 percent.
In his semiannual report to the Senate Banking Committee, Bernanke predicted the economy is likely to keep contracting in the first six months of 2009, but that "there is a reasonable prospect" the recession will end this year. He warned that a recovery will require getting credit and financial markets to operate normally.