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Senate to vote on Janet Yellen’s nomination next week

The US Senate will vote next week on the new budget deal and Janet Yellen’s nomination to lead the Federal Reserve, Senate Majority Leader Harry Reid said Friday. “On Tuesday, we’ll begin consideration of the budget. On Wednesday, the defense bill, and after that we’ll address further nominations, of which…

Senate Republicans to grill Federal Reserve nominee Janet Yellen

Janet Yellen will face hostile Republicans doubtful of the Federal Reserve’s easy money policies when she appears before senators Thursday to defend her nomination to lead the US central bank. Yellen, chosen by President Barack Obama to replace Ben Bernanke as Fed chair, is expected be easily approved by the…

Asian shares mixed as U.S. debt deadline approaches

Asian markets were mixed on Thursday as traders nervously awaited signs of progress in solving a budget stand-off in Washington that threatens to plunge the U.S. into default. President Barack Obama said he will meet leaders of the Republicans and Democrats to try to break the deadlock, which has shut…

Economists rip Ben Bernanke over Federal Reserve not cutting stimulus

Economists and market analysts on Thursday blasted Federal Reserve chief Ben Bernanke after the Fed stunned markets with its unexpected decision to not cut its stimulus. Bernanke came under fire for having stoked nearly unanimous expectations that the Fed would announce the “taper” of its $85 billion a month bond-buying…

U.S. Federal Reserve faces midstream changeover, with Bernanke’s successor still unnamed

There’s never a good time to change the head of the US central bank, according to Ethan Harris, who wrote “Ben Bernanke’s Fed” about the chairman of the Federal Reserve. But it’s even more the case currently as Bernanke appears poised to depart in January, even though the US economy…

Federal Reserve bracing for 2014 change-over

There’s never a good time to change the head of the US central bank, according to Ethan Harris, who wrote “Ben Bernanke’s Fed” about the chairman of the Federal Reserve. But it’s even more the case currently as Bernanke appears poised to depart in January, even though the US economy…

Obama won’t pick Fed chair until fall: White House

By Mark Felsenthal WASHINGTON (Reuters) – The White House moved on Friday to damp down speculation about President Barack Obama’s choice to lead the Federal Reserve when Ben Bernanke’s term expires, saying no decision has been made and no announcement is likely until the fall. Bernanke’s second four-year term as…

Commerce Department says 2013 economic recovery weaker than thought

The US economic recovery was far weaker in the first quarter of the year than first thought, the Commerce Department said on Wednesday. The nation’s gross domestic product (GDP), the broadest measure of all goods and services produced in the economy, grew at a 1.8% annual rate from January through…

Fed Chair Bernanke tells worried Princeton grads: ‘Call your parents’

Copyright ImageClick to View Professor Jeff Nunokawa holds Princeton University’s ceremonial mace as Ben Bernanke, Chairman of the Federal Reserve, leads the processional out of the university chapel after giving the Baccalaureate address Sunday.(Rich Schultz/AP) It must be tough being Ben Bernanke…  …

Olbermann calls out media hypocrisy on ‘Occupy Wall Street’ protest

Keith Olbermann pointed out Wednesday night on Countdown that the major newspapers had been ignoring the five-day-long “Occupy Wall Street” protests, but would have scrambled to cover a similar-sized tea party protest. “Why isn’t any major news outlet covering this?” he asked. “If that’s a tea party protest in front…

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