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Bernanke to give policy update

Federal Reserve Chairman Ben Bernanke will testify before the Senate Banking Committee this morning for his semi-annual monetary policy update. 

Bernanke is expected to announce a shift to a focus on jobs, since economic recovery has slowed in the last few months and unemployment has stayed above 8 percent for 41 months, according to Bloomberg.

It is still unknown whether Bernanke will advise the Federal Reserve to complete another round of quantitative easing, according to Reuters. Last month Bernanke said if the job market doesn’t improve, the Federal Reserve will have to take action.

Last month, the Federal Open Market Committee extended the bank’s Operation Twist program, where the government sells short-term bonds and buys long-term bonds. 

The stock market reacted positively at opening this morning anticipating news from Bernanke, according to Reuters.

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