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Bernanke

BUSINESS
July 29, 2013 | By Jim Puzzanghera
The Federal Reserve, the nation's central bank, has taken unprecedented steps since 2008 to try to stimulate the economy and help it recover from the Great Recession and financial crisis. As economic conditions have improved, Fed policymakers are considering ending those stimulus programs. Test your knowledge about the Fed's stimulus efforts with this quiz. 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BUSINESS
July 29, 2013 | By Jim Puzzanghera
WASHINGTON -- President Obama said his pick for the next head of the Federal Reserve would need to focus on both parts of the central bank's dual mandate -- keeping inflation in check and promoting maximum employment -- while helping improve the lives of average Americans. Appearing to confirm widespread expectations that Fed Chairman Ben S. Bernanke is not seeking a third term, Obama said this weekend that he had not made a final decision on a nomination. An announcement would come in "the next several months," Obama said.
BUSINESS
July 23, 2013 | By Jim Puzzanghera
WASHINGTON -- Half of economists in a poll released Tuesday said they expected the Federal Reserve to start tapering its monthly bond-buying purchases in September. The percentage was up from last month, when 44% of economists in the survey by Bloomberg News said they thought that Fed policymakers would begin ratcheting back one of the central bank's major stimulus efforts at its September meeting. None of the 54 economists in the poll, taken July 18-22, believed the Federal Open Market Committee would decide to start reducing the bond purchases at its next meeting at the end of this month.
BUSINESS
July 19, 2013 | By Andrew Tangel
NEW YORK - Investors pushed major U.S. indexes to a fresh round of all-time highs this week after strong profit reports from Wall Street banks were seen as another sign that the economy is improving. Citigroup Inc., Goldman Sachs and Morgan Stanley all reported that their investment banking business did big business during the second quarter. Analysts viewed that as a sign companies are turning to major financial firms to raise money and expand. Bulls hope that stronger corporate profits will help the underlying value of stocks and keep this year's rally going.
BUSINESS
July 18, 2013 | By Jim Puzzanghera and Christi Parsons
WASHINGTON - President Obama's choice for replacing Federal Reserve Chairman Ben S. Bernanke probably comes down to a quiet consensus builder, who would be a historic pick, or one considered brilliant but difficult to work with. Through unprecedented policy moves and public outreach, Bernanke has dramatically expanded the role and the profile of the nation's central bank. But neither he nor the White House have indicated whether he would seek a third term or be renominated. It is widely expected, though, that Bernanke will step down when his current term expires in January.
BUSINESS
July 17, 2013 | By Jim Puzzanghera
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.
BUSINESS
July 17, 2013 | By Jim Puzzanghera
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke on Wednesday admitted there has been some confusion as the central bank has tried to explain plans to scale back its stimulus policies, but said he thought financial markets were "beginning to understand our message. " Facing Republican criticism of the Fed's unprecedented efforts to boost economic growth, Bernanke also told the House Financial Services Committee that the central bank has been focused on helping average Americans.
BUSINESS
July 11, 2013 | By Walter Hamilton
The stock market is back at new highs thanks to comforting words from Federal Reserve chief Ben S. Bernanke. The Dow Jones industrial average and the Standard & Poor's 500 index both surged into new high ground Thursday as investors celebrated the clearest sign yet that the Fed will maintain its easy-money policies. The Dow vaulted 169.26 points, or 1.1%, to 15,460.92, capping an impressive comeback over the last two weeks after a nearly 5% dip the previous four weeks. The S&P 500 rose 22.41 points, or 1.4%, to 1,675.
BUSINESS
July 11, 2013 | By Walter Hamilton and Tiffany Hsu
The stock market streaked to new highs Thursday as investors remained hopeful that the Federal Reserve's easy money policies will continue to drive the U.S. economy. The Dow Jones industrial average and the Standard & Poor's 500 index, the two most widely followed market barometers, jumped a day after Fed chief Ben S. Bernanke gave the clearest sign yet that the central bank will maintain its stimulus programs. Investors were spooked when Bernanke hinted last month that the Fed may end a bond buying program widely credited with spurring the long-sluggish economic recovery.
BUSINESS
July 10, 2013 | By Don Lee
WASHINGTON -- Federal Reserve policymakers appear to be deeply split on how quickly to pull back their $85 billion a month bond-buying stimulus. An account of the central bank's last meeting in mid-June shows that about half of the Fed officials believe the bond-purchase program should be halted by the end of the year. A few participants even wanted to see the purchases slowed or stopped at the last meeting, said the minutes, released Wednesday with the usual three-week lag. That would be much sooner than what most investors are expecting -- and ahead of the time frame outlined by Fed Chairman Ben S. Bernanke.
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