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In his much-anticipated speech, US Federal Reserve Chairman Ben Bernanke on Friday proposed no new steps to boost the US economy while hinting that Congress may need to act to stimulate hiring and growth.

Analysts expect oil would jump if US Federal Reserve Chairman Ben Bernanke signals that the Fed plans another round of Treasury bond purchases.
Thousands of additional reductions are expected as part of a broader restructuring exercise known as "Project New BAC" and the layoffs could touch at least 10,000.