Stocks rise moderately after consumer confidence data, Bernanke’s reappointment as Fed chairNEW YORK — Investors put stocks back on an upward path Tuesday, encouraged by a report that consumers are regaining confidence and news of Ben Bernanke’s reappointment as Federal Reserve chairman. Stanley Furniture promotes Glenn Prillaman to president and chief operating officerSTANLEYTOWN, Va. — Stanley Furniture Co. said Tuesday it named Glenn Prillaman as its president and chief operating officer. Consumer sentiment up more than expected in Aug., expectations at highest level since Dec. ‘07WASHINGTON — Consumer sentiment rose more than expected in August and expectations hit the highest level since the recession began, indications that Americans’ pessimism about the economy may be lifting. Citing worse than expected economy, White House and Congress offer bleak budget outlooksWASHINGTON — In a chilling forecast, the White House is predicting a 10-year federal deficit of $9 trillion — more than the sum of all previous deficits since America’s founding. And it says by the next decade’s end the national debt will equal three-quarters of the entire U.S. economy. Obama announces plan to keep Bernanke as chairman of Fed to continue economic recoveryOAK BLUFFS, Mass. — President Barack Obama announced Tuesday he wants to keep Ben Bernanke on as Fed chairman, saying he shepherded America through the worst economic crisis since the Great Depression. |
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