"We should remain in recovery mode, but it won't be especially strong"
- Scott Brown, chief economist at Raymond James
Banks in America were closed on Monday in observance of Labor Day.
Stocks advanced on Friday, after Ben Bernanke's comments. The Standard & Poor's 500 advanced 0.51 per cent to 1,406.58. The Dow Jones Industrial Average edged higher 0.69 per cent to 13,090.84. The Nasdaq Composite jumped 0.60 per cent to 3,066.97.
"We should remain in recovery mode, but it won't be especially strong," said Scott Brown, chief economist of financial-advisory firm Raymond James.
"You would be able to react to the incoming data in an incremental way and not be in a situation where you have to either drop the bomb or do nothing," St. Louis Fed President James Bullard said in an interview last week during the Fed's annual monetary policy symposium in Jackson Hole, Wyoming.
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