U.S. stock futures rose as Federal Reserve Chairman Ben S. Bernanke said the U.S. needs stimulative monetary policy for the foreseeable future.
Standard & Poor’s 500 Index futures expiring in September rose 0.7 percent to 1,656.4 at 5:25 p.m. in New York.
“Highly accommodative monetary policy for the foreseeable future is what’s needed in the U.S. economy,” Bernanke said today in response to a question after a speech in Cambridge, Massachusetts.
The benchmark index ended regular trading little changed as investors analyzed minutes from the Fed’s last meeting for signs on when the central bank might slow the pace of stimulus efforts.
Minutes from the central bank’s June 18-19 meeting, released today in Washington, showed that while several members judged that a reduction in asset purchases “would likely soon be warranted,” many officials want to see more signs employment is picking up before they’ll begin slowing the pace of $85 billion in monthly bond purchases.