December 18, 2013 |
WASHINGTON - Federal Reserve Chairman Ben S. Bernanke said Wednesday that central bank policymakers decided to modestly reduce a key stimulus program because of "meaningful" progress in the jobs market, but emphasized the economy "has much farther to travel. " "The recovery clearly remains far from complete," Bernanke said in his final scheduled news conference. To emphasize that point, Bernanke and his colleagues on the Federal Open Market Committee also decided to send a strong signal that they were committed to continuing to try to stimulate the economy.
September 18, 2013 |
WASHINGTON -- Despite improvement in the labor market over the last year, central bank policymakers were not confident enough yet that the economy could handle a reduction in a key stimulus program to move ahead with a pullback this month, Federal Reserve Chairman Ben S. Bernanke said Wednesday. "Conditions in the job market today still are far from what all of us would like to see," Bernanke said at a news conference after the policy-setting Federal Open Market Committee voted to continue its bond-buying program at the same pace.
July 17, 2013 |
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke said Wednesday that he expected the central bank to start tapering its bond-buying stimulus program this year, but that there was not a "preset course" to doing so. The Fed's plan to begin reducing the purchases "in measured steps" still could change if the economic recovery does not continue to improve as the central bank projects, he said. In testimony prepared for a congressional hearing, Bernanke also warned lawmakers that they could pose the biggest threat to an economic recovery that has been boosted by a rebounding housing market.
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.
March 20, 2013 |
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke said Wednesday that the central bank might gradually ratchet back its stimulus efforts if the labor market continues to improve, before completely pulling the plug on the unprecedented effort. The Fed has said it would continue purchasing $85 billion in bonds until there is substantial improvement in the labor market. Federal Reserve policymakers said Wednesday that moderate economic growth has returned after a slowdown at the end of last year and the employment situation has improved.
November 20, 2012 |
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke said Tuesday that President Obama and Congress must shield the fragile economy from the full brunt of the so-called fiscal cliff or risk another recession just as the recovery is taking hold. Speaking at the New York Economic Club, Bernanke warned that the Fed doesn't have the tools left to offset the one-two punch of significantly higher taxes and sharply reduced government spending set to begin in January. "Coming together to find fiscal solutions will not be easy, but the stakes are high," Bernanke said.
March 1, 2011 |
Federal Reserve Chairman Ben S. Bernanke said a sustained rise in prices for oil and other commodities would threaten the economic recovery, but that even with the turmoil in the Middle East he did not expect higher prices would create inflation problems in the United States. "The most likely outcome is that the recent rise in commodity prices will lead to, at most, a temporary and relatively modest increase in U.S. consumer price inflation," Bernanke said in testimony Tuesday before the Senate Banking Committee.
March 4, 2014 |
Although the Federal Reserve has been criticized for its unprecedented efforts to fight the 2008 financial crisis, former Fed chief Ben S. Bernanke said Tuesday the central bank could have done more. "Although we have been very aggressive, I think on the monetary policy front we could have been even more aggressive," Bernanke told a bankers conference in Abu Dhabi, according to Reuters. The speech marked his first public comments since stepping down Feb. 2 after eight years as Fed chairman.
July 22, 2010 |
The Federal Reserve may try to push borrowing costs even lower if the job market continues to languish, Fed Chairman Ben S. Bernanke said Thursday, offering a hint of what might trigger additional monetary easing. After three quarters of solid growth, the U.S. economy has been losing steam, with firms still reluctant to hire and the housing sector seemingly unable to exit a prolonged rut. Bernanke's comments accompanied Labor Department data Thursday showing that new claims for state unemployment benefits jumped to 464,000 last week.
June 20, 2012 |
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke said the central bank was hoping for the best concerning the European debt crisis but was ready to step in with more forceful action if needed. "We are hoping for the best ... but we are prepared in case things get worse to protect the U.S. economy and the U.S. financial system," Bernanke told reporters Wednesday. He defended the move by the Federal Open Market Committee on Wednesday to extend a program designed to lower long-term interest rates, a modest step in the face of slowing growth in the U.S. and abroad.