January 29, 2014 |
WASHINGTON - Shrugging off the recent turbulence in financial markets, the Federal Reserve gave an upbeat take on the U.S. economy and went through with a second straight cut to its large bond-buying stimulus program. Although the decision to reduce its purchases was expected, Ben S. Bernanke won rare unanimous backing in his last meeting as Fed chairman Wednesday. The 10-0 vote to make another $10-billion-a-month cut in its bond purchases also cemented the central bank's plan to gradually dial back its unprecedented monetary stimulus.
January 26, 2010 |
Federal Reserve Chairman Ben S. Bernanke's confirmation to a second four-year term, seemingly a slam dunk just a few weeks ago, now has become a true battle royal. Although Democratic Sens. Dianne Feinstein of California and Max Baucus of Montana voiced support for Bernanke on Monday, a Wall Street Journal tally showed that the Fed chief still was 20 votes shy of the 60 needed to overcome a filibuster that could block his confirmation. A total of 43 senators have said they are undecided or haven't officially commented.
December 8, 2009 |
Despite last week's surprisingly positive report on jobs, Federal Reserve Chairman Ben S. Bernanke remains cautious about the economic recovery and suggested Monday that he would push to keep interest rates near zero for an "extended period." In a speech at the Economic Club of Washington, Bernanke said the job market remained weak, and he maintained a sobering outlook for unemployment in the foreseeable future -- even after Friday's upbeat employment report. That data showed the jobless rate dropping slightly to 10% from 10.2% in October and employers shedding 11,000 jobs last month, far less than what economists had projected.
January 24, 2010 |
Federal Reserve Chairman Ben S. Bernanke, whose reconfirmation has become surprisingly jeopardized, received a bipartisan boost Saturday from two key senators who reiterated their support for him and predicted he would win a second four-year term. Senate banking committee Chairman Christopher J. Dodd (D-Conn.) and Sen. Judd Gregg (R-N.H.), who also serves on the committee, took the unusual step of issuing a weekend statement on Bernanke's behalf. The move came a day after two Democratic senators, Barbara Boxer of California and Russell D. Feingold of Wisconsin, announced their opposition to Bernanke's renomination as head of the central bank, fueling speculation that his confirmation could be scuttled.
January 20, 2010 |
Federal Reserve Chairman Ben S. Bernanke, apparently seeking to mollify critics as he awaits Senate confirmation on his reappointment, said Tuesday that he welcomed a government audit of the central bank's role in the intensely unpopular bailout of American International Group Inc. In a letter to the head of the Government Accountability Office, the investigative arm of Congress, Bernanke offered to "make available to the GAO all records and personnel...
May 28, 2013 |
WASHINGTON -- With the Federal Reserve playing an over-sized role in the U.S. economy, Wall Street investors are keenly interested in who will be the central bank's next chairman when Ben S. Bernanke's term expires in January. The Fed's No. 2 official, Janet L. Yellen, long seen as Bernanke's heir apparent, is considered the favorite to succeed him. But an even better-known economist could get the nod from President Obama: Lawrence Summers . Despite a "deep bench" of candidates, Financial Times columnist Edward Luce is betting on Summers, a former Treasury secretary who served as Obama's top economic aide from in 2009 and 2010.