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.
July 22, 2010 |
Saying the economic outlook was "unusually uncertain," Federal Reserve Chairman Ben S. Bernanke predicted that unemployment was likely to remain stubbornly high for several years, straining families and endangering the nation's economic stability and competitiveness. "Long-term unemployment not only imposes exceptional near-term hardships on workers and their families; it also erodes skills and may have long-lasting effects on workers' employment and earnings prospects," he said Wednesday in his semiannual testimony to Congress.
November 19, 2010 |
Federal Reserve Chairman Ben S. Bernanke, in text for a upcoming speech, strongly criticized China and other emerging countries that he said were stunting a balanced global economic recovery by manipulating their currencies. "Some economies have fully recouped their losses while others have lagged behind," Bernanke said in a speech to be delivered Friday in Frankfurt, Germany. "But at a deeper level, the tensions arise from the lack of an agreed-upon framework to ensure that national policies take appropriate account of interdependencies across countries and the interests of the international system as a whole.
February 26, 2010 |
Federal Reserve Chairman Ben S. Bernanke revealed Thursday that the central bank was examining financial deals that Goldman Sachs and other banking companies made with Greece before its debt crisis erupted, creating potentially more public relations troubles for Wall Street firms. "We are looking into a number of questions relating to Goldman Sachs and other companies and their derivatives arrangements with Greece," Bernanke told the Senate Banking Committee on the second day of the Fed's semiannual report to Congress on the nation's economy and monetary policy.
June 18, 2006
Federal Reserve Chairman Ben S. Bernanke decided to stick his foot in the bear's mouth, providing the last thing the market needed from him: alarmist comments and poor choices of words ("Dow Dives 199 on Rate, Energy Fears," June 6). True, Bernanke is new in his role. True, Alan Greenspan, his predecessor, perfected his calming rhetoric and uncanny ability to refrain from being specific during nearly 20 years at the helm. But Bernanke seemed to go out of his way to share his anxiety about inflation pressures and confirm the Fed's intended "vigilance" to ensure that inflation doesn't stick.
December 3, 2009 |
Federal Reserve Chairman Ben S. Bernanke may be heavily favored to win Senate confirmation for a second term, but he faces a far tougher challenge in trying to beat back efforts by angry lawmakers to curb the Fed's independence as an arbiter of economic policy. The anger, which is likely to boil up today at Bernanke's confirmation hearing, arises from the Fed's widely acknowledged failure to curb the excessive risk-taking and other financial behavior that helped precipitate the worst economic crisis since the Great Depression.
December 4, 2009 |
Federal Reserve Chairman Ben S. Bernanke on Thursday defended the central bank's record and argued for preserving its regulatory powers, but lawmakers in both parties were unmoved as they lobbed sharp criticisms at him and the Fed for lapses that contributed to the financial crisis. Bernanke is widely expected to win a second term as chairman, but the confirmation hearing before the Senate Banking Committee provided new evidence of the intense resentment in Congress over what is seen as the Fed's failure to tighten credit and curb financial risk-taking in time to avert the worst economic downturn since the 1930s.
March 18, 2010 |
Federal Reserve Chairman Ben S. Bernanke told lawmakers Wednesday that regulatory failures by the central bank helped trigger the financial crisis, but that doesn't mean they should strip the agency of much or all of its oversight of individual banks. The Fed has been under intense fire for not heading off the meltdown of the housing and financial markets. The criticism has been particularly harsh in Congress, where lawmakers are considering a sweeping overhaul of financial regulations that would curtail the central bank's role in bank supervision.
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 29, 2010 |
The Senate, putting market stability ahead of populist anger at Wall Street, voted Thursday to give Federal Reserve Chairman Ben S. Bernanke a second four-year term as head of the nation's central bank. The 70-30 vote was a hard-won victory for President Obama, who had lobbied senators who threatened to block the confirmation of a Bush-era holdover whom they considered an emblem of failed economic policy. The bipartisan vote came three days before the expiration of Bernanke's first term.