Louis Navellier believes Bernanke will continue its quantitative easing program in the face of slower economic growth.
"The S&P 500 rose for the fourth straight week, reaching a new record high of 1692 on Friday. The S&P has risen 5.3% so far in July, despite several weeks of downbeat growth statistics, which point to slower (1.0% to 1.5%) second quarter GDP growth rates. On the positive side, however, this return to slower growth almost guarantees the Fed will keep its money pump in full force for the rest of this year, since Fed Chairman Bernanke re-iterated last week that Fed policies are "data-dependent.""