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Ben Bernanke: Economy ‘clearly still far from’ desired state
Federal Reserve Chairman Ben Bernanke said Monday that the US economy still has far to go to recover to an acceptable state of health. “Today the economy is significantly stronger than it was four years ago, although conditions are clearly still far from where we would all like them to…
Former TARP regulator tells Moyers: Another banking crash is ‘inevitable’
Neil Barofsky, the former regulator tasked with policing banker bailouts in the Bush administration’s Troubled Asset Relief Program (TARP), told talk show host Bill Moyers this week that another major banking crash is now “inevitable” because neither of the political parties have the stomach to end “too big to fail.”…
Bernanke fights monetary easing criticism
The head of the US Federal Reserve on Sunday defended the central bank’s monetary easing measures after criticism that stimulus was to blame for destabilising capital flows around the world. Ben Bernanke said the trillions of dollars that the Fed has pumped into the world’s biggest economy in recent years…
Stocks rise on Bernanke endorsement of renewed stimulus
NEW YORK — Ben Bernanke’s much-awaited endorsement of more Federal Reserve stimulus Friday gave stocks a solid boost, though tempered by his picture of an economy that remains weak and vulnerable. The Dow Jones Industrial Average added 90.13 points (0.69 percent), closing at 13,090.84. The broad-based S&P 500 rose 7.10…
Fed expected to hold fire despite weak U.S. growth
WASHINGTON — The Federal Reserve’s top policy makers are expected to shy away from taking new economic stimulus measures when they meet Tuesday and Wednesday, instead waiting until the economic picture becomes clearer. The interest rate-setting Federal Open Market Committee will gather for a two-day meeting in Washington under the…
Wall Street rises after Bernanke’s gloomy outlook
NEW YORK — US stocks closed higher Tuesday after Federal Reserve chief Ben Bernanke gave a gloomy assessment of the economy to Congress and said the Fed would act if the situation gets worse. Trade was volatile as investors appeared to shrug off Bernanke’s downbeat testimony to Senate lawmakers and…
Gloomy Fed pulls trigger on more economic stimulus
WASHINGTON — The Federal Reserve unleashed a fresh wave of economic stimulus Wednesday as it predicted subpar US growth would be even worse this year than thought. After a two-day meeting the Fed doubled down on a program to lower long-term borrowing costs, as it sharply revised down 2012 growth…
Federal Reserve to meet facing huge stimulus hopes
The plodding US economy, meager job growth and market tensions over Europe’s debt crisis will hang over Federal Reserve policymakers when they meet next week. A recent string of weak data on the economy, from rising jobless claims to easing inflation as gasoline prices retrench, has raised speculation that the…
Hayes: ‘Why the hell’ won’t Ben Bernanke listen to Ben Bernanke?
MSNBC host Chris Hayes lambasted Federal Reserve Chairman (FED) Ben Bernanke Saturday morning for what he and a number of notable economists across the political spectrum feel is Bernanke’s lack of urgency in turning around the country’s economy. Hayes was so bemused by Bernanke’s lack of aggressive action that he…
Senate approves new Federal Reserve governors
WASHINGTON — The US Senate Thursday confirmed two Obama administration nominees to the board of the Federal Reserve after Republicans kept them on hold since December. The confirmations of economist Jeremy Stein and investment banker Jerome Powell will bring the Fed’s board up to full strength of seven governors for…
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