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Dollar holds firm after Bernanke speech

The dollar held firm against other major currencies in Asia on Monday after a much-awaited speech by US Federal Reserve chairman Ben Bernanke boosted positive sentiment. The euro bought $1.4480 in Tokyo morning trade, slightly down from $1.4490 in New York late Friday. It was almost flat at 111.10 yen.…

New IMF chief says urgent action needed to protect recovery

JACKSON HOLE, Wyo (Reuters) – The new head of the IMF on Saturday urged global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to prevent a descent into a renewed world recession. “Developments this summer have indicated we are in a dangerous new phase,”…

Bernanke: It’s Congress’s turn to act on economy

JACKSON HOLE, Wyoming (Reuters) – Federal Reserve Chairman Ben Bernanke on Friday stopped short of detailing further action to boost the U.S. recovery but said the central bank would consider what more it could do to fight high unemployment, giving some comfort to investors. Bernanke said the Fed had marked…

Stock futures flat ahead of jobless claims

NEW YORK (Reuters) – Stock futures were little changed on Thursday as investors found little reason to buy after three days of gains on the S&P 500 and ahead of weekly data on jobless claims. Nasdaq futures were pressured as Apple Inc fell 2.7 percent to $366.15 in premarket trading.…

Stocks rally on hopes of economic growth

NEW YORK — US stocks surged strongly on Tuesday, boosted by growing hopes the US Federal Reserve will offer new stimulus measures to kick-start a sluggish economy. The Dow Jones Industrial Average packed on 322.11 points (2.97 percent) to finish at 11,176.76. The broader S&P 500 leaped 38.53 points (3.43…

Obama 2012 team would prefer to run against Rick Perry

CHICAGO (Reuters) – Republican White House hopeful Rick Perry has at least some supporters in the Democratic stronghold of Chicago — President Barack Obama’s re-election team. The Texas governor, a social and fiscal conservative, is seen by Obama’s top election fundraisers, supporters and senior Democrats close to the campaign as…

Obama meets Fed chief Bernanke

WASHINGTON — US President Barack Obama met Federal Reserve Chairman Ben Bernanke Wednesday to discuss the stuttering US economy and fears of contagion from Europe’s debt crisis. “The president and the chairman discussed the outlook for the recovery and for jobs as well as fiscal issues, including the need to…

Fed speaks again as weak indicators cloud outlook

WASHINGTON (AFP) – US Federal Reserve chairman Ben Bernanke is set to give his second-ever press conference Wednesday as signs of weakness in the world’s biggest economy cloud prospects for a stimulus reduction. The central bank’s Federal Open Market Committee (FOMC) on Tuesday debated an eventual exit strategy from the…

‘Anonymous’ targets Federal Reserve chairman Ben Bernanke

Anonymous has set its sights on Ben Bernanke. The most well-known hacker group, Anonymous, uploaded a video message to youtube yesterday calling for Fed Reserve Chairman Ben Bernanke to resign, among other things. It’s embedded below. The video begins with Bernanke saying he is 100% confident of his ability to…

Federal Reserve Chairman Bernanke sees ‘loss of momentum’ in jobs market

WASHINGTON — After a slew of wretched economic news, Federal Reserve Chairman Ben Bernanke warned Tuesday there had been a “loss of momentum” in the US jobs market. Two years into a slow and largely jobless recovery, Bernanke predicted employment growth would eventually pick up, but that a recent soft-patch…

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