July 17, 2012 |
WASHINGTON - Federal Reserve Chairman Ben S. Bernanke offered a bleak assessment of the economy, stirring more speculation that the central bank would spring into action to boost the flagging recovery. But the Fed chief gave no hint that any move was imminent. And several analysts concluded after his testimony to lawmakers Tuesday that the Fed was now likely to sit tight this summer, waiting until at least its mid-September meeting before undertaking new efforts to spur growth.
July 16, 2012 |
WASHINGTON - A House committee is launching a bipartisan investigation into allegations that large banks rigged a key interest rate, and will start by questioning Federal Reserve ChairmanBen S. Bernanke and Treasury SecretaryTimothy F. Geithner at upcoming hearings. At the same time, officials at the country's largest public pension fund, the California Public Employees' Retirement System, said Monday they were examining the effect of the rate-fixing scandal and might seek damages if they could be calculated.
CALIFORNIA | LOCAL
June 26, 2012 |
Anna Schwartz, an economist and coauthor with Milton Friedman of a book on monetary policy that shaped the views of central bankers including Federal Reserve ChairmanBen S. Bernanke, has died. She was 96. Schwartz died Thursday at her home in Manhattan after a long illness, said her daughter Naomi Pasachoff. The first book that Schwartz wrote with Friedman, "A Monetary History of the United States, 1867-1960," had "critical influence" on the outlook "of a generation of policymakers," Bernanke said in 2003, when he was a Fed governor.
March 1, 2012 |
U.S. consumers and the economy started the year with more financial pep than previously thought, but Federal Reserve Chairman Ben S. Bernanke cautioned that economic growth probably would be modest through the rest of this year. The nation's recovery from the brutal recession has been "uneven and modest," the Fed chief told Congress on Wednesday, and is being hampered by tight credit for borrowers, a depressed housing market, budget-strapped governments and uncertainties in resolving the European sovereign debt crisis.
February 2, 2012 |
Even as Federal Reserve Chairman Ben S. Bernanke described the recovery as "frustratingly slow," Republican lawmakers lit into the central bank chief's latest efforts to boost the economy. In testifying before the House Budget Committee, Bernanke said Thursday that the economy had been improving recently - with consumer spending, manufacturing and job growth up in recent months. But he repeated his cautious outlook for the economy, mentioning uncertainties about Europe, the still-depressed U.S. housing market and the ability of consumers to keep spending in the face of stagnant incomes, tight credit and weak confidence.
July 15, 2011
Even if the White House and congressional leaders reach a deal to raise the debt limit, they face at least two hurdles to persuading rank-and-file Republicans to go along. Some cling to a disturbing belief that the Treasury Department doesn't need to borrow more money to keep America's creditors happy. And many more insist that the deal must include a constitutional amendment to require a balanced budget. The former notion is irrational. And the latter is bad policy, even if it reflects a legitimate concern about the financial burden on future generations.