February 15, 2007 |
Optimism that the global economic expansion will keep rolling drove key U.S. stock indexes to record highs Wednesday. The Dow Jones industrial average topped 12,700 for the first time, rising 87.01 points, or 0.7%, to 12,741.86. In a sign of broad-based demand for stocks, the session marked the first time since 1998 that all three major Dow share indexes -- the industrials, the transports and the utilities -- swept to record levels simultaneously.
January 31, 2007 |
Nobody ever said Alan Greenspan would be an easy act to follow. But Ben S. Bernanke, marking his first anniversary as chairman of the Federal Reserve, is winning Greenspan-like plaudits for deftly steering the U.S. economy toward the promised land of steady growth and moderating inflation. With President Bush focused on Iraq and Treasury Secretary Henry M. Paulson shepherding most of Bush's domestic agenda, the nation's central banker is now more than ever the chief steward of the U.S. economy.
May 29, 2006 |
Ben S. Bernanke's honeymoon as the new Federal Reserve chairman is drawing to an end. Now comes the hard part. The Fed has reached a crunch point in its stewardship of the U.S. economy, and any misstep on Bernanke's part could have dramatic consequences. Inflation is picking up just as economic growth and job creation appear to be slowing. The housing boom is ending, and rising mortgage rates threaten to depress home prices and throttle consumer spending.
October 25, 2005 |
A surging stock market on Monday suggested rousing approval on Wall Street of President Bush's choice of Ben S. Bernanke to head the Federal Reserve. But for investors and consumers, the choice of a successor for Alan Greenspan still leaves open the big questions of Fed policy: How much higher will the central bank raise interest rates, and how long will it keep them up?
March 5, 2008 |
Saying banks must do more to stem rising foreclosures, Federal Reserve Chairman Ben S. Bernanke called on lenders Tuesday to go beyond trimming interest rates on some troubled mortgages by cutting the size of the loans as well. Unless bankers act quickly, Bernanke warned, a large number of homeowners could walk away from their mortgage debt, reversing the historical pattern of people hanging onto their homes at almost all costs.
February 28, 2008 |
Federal Reserve Chairman Ben S. Bernanke painted a bleak picture of the economy Wednesday, suggesting tough times ahead for many Americans and all but guaranteeing further interest rate cuts as the central bank tries to avert the worst of the trouble. Bernanke described a triple threat of little or no growth, more financial market freeze-ups and rising inflation, an ugly combination that would raise unemployment and leave many would-be home buyers and business borrowers without funds.
February 18, 2007 |
On Wall Street, an optimistic Federal Reserve chief trumps just about everything else -- including mortgage-market debacles and jitters over possible hedge fund meltdowns. That was evident last week as investors weighed Fed Chairman Ben S. Bernanke's upbeat words on the economy in his semiannual testimony to Congress.
February 13, 2006 |
Wall Street had been hoping for "none, or one and done" in terms of additional Federal Reserve interest rate increases. But a recent jump in yields on shorter-term Treasury securities suggests that investors are losing faith that the central bank is ready to take a break. The outlook for rates will be center stage this week in financial markets as Ben S. Bernanke gives his first congressional testimony as Fed chairman. Bernanke, who succeeded Alan Greenspan on Feb.
January 7, 2010
It's tall, sure, but so what? Re "Architecture to look up to," Editorial, Jan. 5 I am always pleased when architecture gains a place of prominence in the newspaper, particularly on the editorial page. However, to be "in awe" of the Burj Khalifa -- a monument to ego, power and (as Times critic Christopher Hawthorne aptly stated) hubris -- is misplaced. The architectural and engineering achievements to be in awe of are schools, homes, hospitals, offices and public spaces, not necessarily by the stars of the industry but designed with care, responsibility, insight and creativity by a dedicated architectural workforce.
August 26, 2011 |
Squeezed into a corner, Ben S. Bernanke tried a classic escape tactic: Create a diversion. With financial markets hoping for something of substance in the Federal Reserve chairman's speech on the economy Friday, Bernanke instead cooked up some comfort food. The near-term outlook is a struggle, he allowed, but over the long term the U.S. has the wherewithal to return to a healthy pace of growth. Warren Buffett also tried to make America feel better this week, although unlike Bernanke, the country's second-wealthiest man put up some real money to back his oft-stated optimism.