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 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.
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.
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.
December 16, 2013 |
WASHINGTON -- As Ben S. Bernanke nears the end of his term as Federal Reserve chairman, he is talking more about what may be one of the enduring legacies of his eight-year tenure: the Fed's dramatically expanded communications with the public. These have included instituting quarterly news conferences by the chairman, among other regular public appearances, and providing an explicit target on inflation and thresholds for Fed policy actions. On Monday, in remarks at a gathering to mark the 100th anniversary of the law that established the Fed, Bernanke described these changes as an "ongoing revolution in communication and transparency" at the central bank, which over most of its history has operated in great secrecy.
December 17, 2009 |
Federal Reserve Chairman Ben S. Bernanke has been praised by President Obama and hailed by most mainstream economists for bold policies that played a critical role in pulling the U.S. economy back from the brink of disaster. The Fed chief even won a celebrity accolade Wednesday when Time magazine named him Person of the Year. But instead of basking in glory, the 56-year-old professorial Fed chairman is fighting for his job -- and for the survival of policies at the heart of efforts by the central bank and the Obama administration to keep the nation's fragile recovery on track.