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Asia stocks rise as Fed official backs easy policy

6:06 AM, May 22, 2013   |    comments
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BANGKOK (AP) - Asian stock markets were mostly higher today after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy.

Fed chief Ben Bernanke testifies before a joint congressional committee today.

Regional Fed chief James Bullard said in a speech Tuesday that the Fed should continue its monthly $85 billion in bond purchases, which drives down interest rates and thus encourages lending and spending, to help spur the U.S. economic recovery.

Benchmark crude oil fell below $97 per barrel. The dollar fell against the euro and was little changed against the yen.

 

 

 

 

 

Associated Press

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