July 21, 2010 |
Federal Reserve Chairman Ben Bernanke's dour assessment of the U.S. recovery hit U.S. stocks Wednesday, as the Fed chief's comment on "unusually uncertain" economic prospects discouraged investors. Stocks sank after Bernanke acknowledged the labor market's continued weakness while offering few specific options to stimulate lending and investment. "The market sold off because unfortunately there is no remedy provided in Bernanke's commentary to the rising threat of deflation, the excess capacity in the economy and the malfunctioning of the credit system," said Joe Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania.
April 27, 2011 |
President Obama said he released his long-form birth certificate to stop the conspiracy theories and keep the issue from distracting the nation from more important things. But in doing it Wednesday of all days when the issue has been simmering for months, two of his biggest critics, Sarah Palin and Glenn Beck, charged the White House with conspiring to create its own distraction -- from the first-ever news conference by Federal Reserve Chairman Ben S. Bernanke. That long-awaited event is also Wednesday.
March 26, 2012 |
Wall Street rebounded from last week's declines after Federal Reserve Chairman Ben Bernanke said the central bank will continue to keep interest rates low even as the economy shows signs of recovering. Bernanke said during a speech that the Fed would support “continued accommodative policies” to help the economy grow more quickly. He hopes this stance will help create enough jobs to lower the unemployment rate even further. The comments sent major U.S. stock indexes up more than 1% through much of the session.
June 7, 2012 |
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke maintained that the economy was continuing to grow at a moderate pace, despite the recent sharp deceleration in job growth and a slowdown in economic output in large part because of government spending cuts. In remarks Thursday before the Congress' Joint Economic Committee, Bernanke noted the weakening of hiring this spring as job growth slowed to an average of 75,000 a month in April and May from 225,000 in the first three months of the year.
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...
February 29, 2012 |
Despite the pickup in the U.S. economy since last summer, growth is likely to be "modest" during the coming year, the Federal Reserve said Wednesday, citing factors including tight credit for businesses and consumers, the long-depressed housing market and budget-strapped governments. Fed Chairman Ben S. Bernanke, in presenting the central bank's semiannual report on monetary policy and the economy to Congress, did not view the recent jump in oil prices as a major impediment, though he noted that higher energy costs could pinch consumer spending.