Market Update

Stocks have drifted off of session highs. Gains remain solid, though.

Fed Chairman Bernanke is currently engaged in a question-and-answer session. He stated that although the economy has showed some positive signs, there have been mixed results in such areas as retail sales. He also added that if inflation remains below target and employment remains slow there is a case for further policy action.

Before Bernanke took the podium, the Fed released a downwardly revised economic outlook for 2012. The Fed now expects GDP to grow in a range of 2.2% to 2.7% this year, down from a range of 2.5% to 2.9%

Market Update