Bernanke calls U.S. job market weak despite gains
World BusinessMar 27, 2012
WASHINGTON (AP) ― Chairman Ben Bernanke says the U.S. job market remains weak despite three months of strong hiring and that the Federal Reserve’s existing policies will help boost economic growth.Bernanke’s comments Monday to a group of economists in Arlington, Virginia, drove stocks higher. Many took his cautious words about the economy to mean the Fed is likely to stick to its plan to hold short-term interest rates at record lows through 2014.Though the hiring has helped support consumer conf