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Quantitative Easing Should Continue

Fed Bank of St. Louis president says Fed should continue buying bonds because growth is slower than expected.

By Lu Wang and Inyoung Hwang, Bloomberg | Updated on May 21, 2013

U.S. stocks rose, erasing earlier losses, after Federal Reserve Bank of St. Louis President James Bullard said the central bank should continue its bond buying to boost growth that is slower than expected.

The Standard & Poor’s 500 Index gained 0.5 percent to an all-time high of 1,673.96 at 2:26 p.m. in New York, after falling as much as 0.2 percent earlier. The Dow Jones Industrial Average added 87.37 points, or 0.6 percent, to 15,422.65. Trading in S&P 500 stocks was 3.1 percent below the 30-day average during this time of day.

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