Federal Reserve Chairman Ben S. Bernanke has succeeded in returning the U.S. economy to growth after the longest contraction in more than six decades. So far Wall Street, not Main Street, has been the primary beneficiary.
Bernanke, who spoke Monday at the Economic Club of New York luncheon, has helped spark a 62 percent rally in the stock market since March 9 by pledging to keep borrowing costs “exceptionally low” for “an extended period.” His efforts haven’t stopped unemployment from reaching a 26-year high of 10.2 percent in October.
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